DJIA and S&P gain, Nasdaq flat

DJIA and S&P jumped today after the market open boosted by earnings result from big names. Caterpillar (NYSE: CAT) and McDonald (NYSE: MCD) are both major performer today to lead the index higher. Unfortunately, Nasdaq could not join the bullish advance as the index weighed by Alphabet (NASDAQ: GOOG) performance after previous day market close.

Earnings result has been strong and affirms investors that the valuation and earnings growth is supporting each other. There is no reason to sell the market yet as The Fed also continue accommodative.

Earnings & Corporate report

McDonald (NYSE: MCD) reported earnings per share of $1.84 vs. $1.73 consensus. Revenue comes out at $6.05 billion vs. $6 billion expectation. The share prices up more than 3% after the market open.

Caterpillar (NYSE: CAT) posted earnings per share of $1.49, surpassing $1.26 expectation. Revenue also beat with $11.3 billion vs. $10.95 consensus. Share prices up nearly 5% after the market open.

DuPont (NYSE: DD) shares up 1.56% after reported better than expected result. Earnings per share come out at $1.38 vs. $1.29 consensus. Revenue grew to $7.42 billion which is higher than $7.26 expectation.

3M Company (NYSE: MMM) missed the forecast. The company reported earnings per share of $2.58 vs. $2.54 expectation. However, revenue miss by $0.07 billion at $7.81 billion. The share prices down almost 6%.

United Technologies (NYSE: UTX) topped estimate with $1.85 eps vs. $1.77 expectation. The company reported revenue of $15.28 billion vs. $15.18 billion estimates. Share price down 2.3% despite earnings beat.

Technical Analysis

Dow Jones Industrial Averages (INDU)

DJIA is up 100 points after the market open, but it could not climb above previous record high and currently floating lower. The index might continue higher today as U.S dollar index undergo a correction. The U.S dollar index initially falls below 94.00 and regain most of its losses in U.S trading session.

There is a possibility the DJIA index might print new record high today, but tomorrow FOMC meeting might hinder the scenario.

Ebay Inc (EBAY)

eBay reached new record high but retreat under earnings miss. The share prices are currently moving near the top of the blue channel where it might find support. If the price continues lower, traders could look level between daily SMA 50 and $34.74 for a long position.

Delta Airlines (DAL)

Simple setup on DAL daily chart, the price broke above $51.5 flip level where resistance previously present. The resistance expected to turn into support now and traders could place long position with high odds for a bounce.

Other Watchlist

MMM – The share price gap down and continue moving lower, it is near the daily SMA 100 which is interesting to watch. Judging from the momentum of the downward movement, MMM might lose further ground and test level around $190.

HAS – Previous day slump after earnings report brings the share price closed near daily SMA 100. The price opened higher but start another slide, it currently supported by the daily SMA 100. If the averages could hold from the bearish pressure, HAS might stall and prepare for a bounce.