US Market End of Day Snapshot
US markets continued to move higher throughout the day, with the S&P 500 closing up 1.04%, the Russell 2000 up 0.48%, and the Nasdaq up 1.64%.
US Markets are being led higher today by Technology (+1.82%), Consumer Discretionary (+1.62%), and Energy (+1.45%), while Industrials (-0.37%), Financials (+0.07%), and Telecom (+0.34%) are the biggest laggards.
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Stocks Trending in the News
Amazon (AMZN) posted 1Q 2018 EPS that was significantly above expectations ($3.27 vs $1.27 consensus). Net sales came in $1billion above estimates ($51.0bn vs $50bn).
Baidu (BIDU) released 1Q 2018 EPS that was nearly $1 higher than the consensus ($2.60 vs $1.64 expected).
Intel Corp (INTC) announced 1Q 2018 EPS that was higher than expected ($0.87 vs $0.71 consensus).
Mattel’s (MAT) 1Q 2018 EPS came in well below expectations (-$0.63 vs -$0.39).
Microsoft (MSFT) posted 3Q 2018 EPS of $0.95, firmly above the $0.85 EPS estimate.
Starbucks (SBUX) Q2 2018 EPS was in-line with expectations ($0.53 vs $0.53 consensus).
Western Digital’s (WDC) 3Q 2018 EPS was strong than the consensus ($3.63 vs $3.30 estimated).
Cryptocurrencies were stronger today, with the major coins higher. Bitcoin (+2.00%), Ethereum (+4.06%), Ripple (+3.95%), Bitcoin Cash (+5.36%), and Litecoin (+2.48%) were all gained. This rally was inspite of the former CEO of PayPal, Bill Harris, calling bitcoin a scam in a post on Recode, a technology news site. He also added that bitcoin is highly speculative and that the cryptocurrency is a bubble.