Stock on the positive side before The Fed
U.S stock market posted strong gains at the middle of the trading session. Dow Jones Industrial Averages currently up 312.52 points (+1.27%) at 24,892.48, Nasdaq up 94.25 points (+1.29%) at 7,118.71 and S&P 500 up 21.84 points (+0.83%) at 2,661.84.
Positive earnings reaction from Boeing (NYSE: BA) and Apple (NASDAQ: AAPL) is the reason for today bullish movement. Despite weaker result from Apple, Tim Cook is optimistic, the situation on U.S-China trade wars will turn better. We might see a continuation of the bullish move today. However, the bullish sentiment will come under test soon as The Fed announce interest-rate.
On the economic front, ADP Non-farm employment change added 213k job in January compared to 180k expectation. It is a good number considering how long the government shutdown happened.
Earnings & Corporate results
Boeing (NYSE: BA) beaten analyst expectation by a monstrous margin. The company reported earnings per share of $5.48 vs. $0.91 expectation. Revenue comes out at $28.34 billion vs. $26.65 billion. After the result, Boeing current sees full-year EPS of $19.90 – $20.10 and revenue between $109.5 – 111.5. Both numbers higher than EPS estimate $19.24 and revenue $106.9.
McDonald’s (NYSE: MCD) posted earnings per share of $1.97 vs. $1.90 consensus. Revenue comes out at $5.163 vs. $5.162. Share prices jumped at the opening of the market but losing momentum and currently traded down 0.10%.
Alibaba (NASDAQ: BABA) reported earnings per share of $1.77 vs. $1.67. Revenue comes out at $17 billion vs. $17.7 billion. Share prices currently up 5.2%.
CREE, FB, MDLZ, MSFT, NOW, PYPL, QCOM, TSLA, WYNN, X will report result after market close
Gold up $0.40 (+0.03%) to $1,315.60, Crude oil up $1.28 (+2.4%) to $54.59. U.S dollar index down 0.06 (+0.06%) to 95.87
Asian stock market mixed. Nikkei down 108.10 points (-0.52%) to 20,556.54, Shanghai Composite down 18.68 points (-0.72%) to 2,575.58, Australia ASX up 12.50 points (+0.21) to 5,886.70.
European stock market also mixed. DAX Germany down 0.33%, FTSE UK up 1.58%, and Euro STOXX 600 up 0.36%.