Dow Earnings Off The Roof; Rises Over 100 Points
Record highs reported for both The Dow (DOW) and S&P 500 who high notes on Friday. As on Friday, earnings were being reported from every end, many companies good earnings reported by such those of AbbVie, Rockwell, Intel and others.
Moreover, on the other hand, U.S stocks traded better and higher on Friday as the economy continues to report growth.
Amongst those that rose were the Dow Jones Industrial Average (INDEXDJX: .DJI) that increased by more than 100 points and hit record values. Moreover, the S&P 500 gained 0.5 percent. The health care and tech industry also showed and proved to be performing sectors. Those also reported high values. There was some movement in the Nasdaq composite as well, which rose by 0.7 percent.
Among those companies that reported high earnings were AbbVie, Honeywell, Rockwell and Intel. All companies reported better earnings. Shares of both Honeywell and AbbVie increased by 1.1 percent and 9.3 percent respectively. Intel’s shares increased by 9.1 percent. Rockwell also experienced some advancement as it increased by 0.7 percent.
This happens to be the best and strongest work of 2018 so far in the stock market. According to a data set by FactSet, 77 percent companies have reported better than expected earnings whereas 79 percent were those who experienced and reported better than expected rates.
The first quarter earnings for 2018 are also therefore rising. Moreover, it is reported that analysts were saying that this is the first time that they have seen an aggregated S&P 500 higher and advancing more than it has in the last 7 years.
The U.S economy reported a growth 2.6 percent in the 4th quarter of 2017. Economists were expecting a gain of 3 percent. While some took the news of these gains nicely, others did not. The general sentiment however, remained that the companies’ data and earnings were enough to send the stocks above their values.
These are record earnings for the Dow Jones and S&P 500. As we advance more into 2018, we can expect the market to sustain similar trends as it did this Friday.