It was an upbeat day in the stock market as equities got a lift from three main events:
- US CPI lower than expected at 3.5% y/y vs 3.8% expected
- Earnings from financials were strong
- Trump TACO’d on 20% tolls in Hormuz
Internally, the chip battle continued and not all the financials made gains. Some of the movers:
- NVDA +4.1%
- GOOGL +2.1%
- MSFT -1.4%
- MU +5.0%
- GS +9.3%
- WFC -2.3%
- C -5.0%
- JPM +2.5%
- LLY -2.2%
- INTC +4.3%
In the S&P 500, there were 179 stocks up and 298 down. Tehre are no important earnings after the bell but before the open tomorrow we get ASML, which is a big one for the chip names. We also get Johnson & Johnson and Morgan Stanley.
Closing changes for the main indexes:
- S&P 500 +0.4%
- Nasdaq Comp +0.9%
- DJIA – flat
- Russell 2000 +0.4%
- Toronto TSX Comp +0.2%
This article was written by Adam Button at investinglive.com.