Markets End Slow Week on a High Note

Markets closed a slow week on the upswing today. The Dow gained 98.82 points to close at 18,057.55. The NASDAQ was up 21.41, and the S&P 500 grew by 10.88 points. In overseas trading, only Japan's Nikkei dipped today. The Hang Seng closed the week with another big 342 point gain, and Germany's DAX rose 241.

People Just Love Chipotle.  Chipotle (CMG) has turned burritos into big business, and they have developed a cult following doing it. Share prices for the restaurant were up 5%, gaining 31.30 points to close at $683.02.
Surprisingly, there has not been any credible speculation about why the stock rose today, other than the fact that it's Friday and even Wall Street can't resist indulging in Chipotle sometimes too.

Symantec Up On News It Might Be Selling Off Its Enterprise Backup Software.  Enterprise software solutions provider Symantec (SYMC), once known only for their Norton brand of antivirus software, might be getting out of the data backup game. Some news has recently leaked that Symantec is hoping to be able to sell off its Veritas backup software line in order to slim down and concentrate on a slightly different core business model. Symantec was up nearly 6% on the news, gaining 1.35 points to close at $25.58 per share.

Netflix Making The Most Of Citigroup Upgrade.  Online movie and television streaming provider Netflix (NFLX) got a stock upgrade to Buy this week from Citigroup (C). Share prices of Netflix rose 15.07 points today, and are up 10% on the week. The upgrade was no surprise, since Netflix announced that their user base has been growing steadily.

Fidelity Information Services Lowers Expectations, Share Prices Follow.  Fidelity National Information Services (FIS) an offshoot of massive banking, finance and investment corporation Fidelity Holding Corp (FDHC) has lowered expectations for profits this quarter. Predictably, investors began lowering their expectations for holding on to the stock until the end of the quarter as well. The selloff sent Fidelity Information Services falling -2.58 per share to close at $65.50.

Euro Up Slightly In Trading Today, But Be Ready For Another Drop.  There's no doubt that the Eurozone is recovering slowly, in fact outside of Russia it's hard to think of a region that is under-performing on its potential more than continental Europe. The Euro made some small gains versus the US Dollar in trading today, gaining 1.14%.

The real problem in store for the Euro, at least compared to American currency, is the Fed's willingness to keep rates low. They signaled today that the anticipated June rate hike could be delayed until September in order to give American bond yields some space to grow. The Fed is also looking at unemployment numbers, which are recovering but still lackluster, before pulling the trigger on a rate increase. And when it does, and American bonds become an even more appealing place to put long-term assets, the bottom could fall out on the Euro all over again.
Published on Apr 10, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2020. Content published with author's permission.

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