Markets Up As Earnings Reports Continue to Trickle Out
The Dow was up 139.95 points today, closing at 17,868.76 despite a lower than average trading volume. NASDAQ rose 61.64 points to close at 4,787.65, and the S&P 500 gained 21.83 points to finish the trading day at 2,068.57. In overseas trading, Germany's DAX snapped a 3-day losing streak and gained 90.32 points to close the day at 10,753.83.
Oil Drops Back to $50, Takes Sector Down With It The big story of the day was a stop to the recent gains oil futures were making, leaving the market wondering if the price of crude has found a ceiling at $50.
Health Services Sector Continues to Climb Managed care provider Molina Healthcare Inc (MOH) posted strong gains today, rising 11.45%, or 5.78 points, to close at 56.26 on higher than average Q4 enrollment. USMD Holdings (USMD), which owns and operates hospitals and care centers, jumped 7.75% to finish the day trading at 14.88 per share. VCA Inc (WOOF) continued to rise, closing at 53.96 bumping its 5-day gains up to 2.90%.
A Solid Day for Apple, Google, and Microsoft Apple (AAPL) was up another 2.30 points today, extending a 5-day hot streak for the device manufacturer, one that has seen their share price rise to 122.02 after a record-setting earnings report. Google (GOOG) and Microsoft (MSFT) were up as well, with Google rising 9.11 points to close at 536.94 and Microsoft rising just a quarter of a point to 42.60.
Hotels See A Bounce After Strong Q4 Both Wyndham Worldwide (WYN) and Starwood Hotels and Resorts (HOT) made gains today after posting better than expected Q4 earnings reports. Wyndham added 8.71%, or 7.06 points, to close the day at 88.07 per share. Starwood gained 4.70 points, or 6.60%, and finished the trading day at 75.93 per share. The entire hospitality sector has been trending up recently, with major players Hyatt (H) and MGM Resorts (MGM) also having a strong day. Hyatt rose 2.79 points to close at 59.83, and MGM Resorts was up 1.15 points to end the day at 20.74 per share.
Currency and Commodities Despite the drop in oil, gas rose 3.08% to $2.68 a gallon today. Corn futures were down slightly, finishing at $388 per metric ton. Silver and gold both rose 0.13% to close at $16.90 and 1,233.80 per troy ounce, respectively. The British Pound and Chinese Yuan strengthened relative to the US Dollar, while most other worldwide currencies including the Canadian Dollar, Australian Dollar, Japanese Yen, and Euro lost ground.