Royal Caribbean Sets A Good Example
For the second week in a row, markets have boomed on Friday. Today, the Dow shot up 267.05 points to close at 18,191.11. The NASDAQ didn't bounce as high, but still managed to close up 58.00 points to 5,009.55. The S&P 500 gained 28.10 points, and closed at 2,116.10. In overseas trading, the markets were up all over the world. In real dollars, Europe grew twice as much as Asia today, with London's FTSE and Germany's DAX rising 163.50 and 309.74 respectively.
Energy Companies Up As Oil Stabilizes At $60. Oil couldn't quite hold $60 per barrel this week, but it got awfully close.
Almost all of the market leaders are in energy today. Southwestern Energy (SWN), Range Resources (RRC), NRG Energy (NRG), and Chesapeake Energy (CHK), all rose in trading today. Southwestern lead the pack of domestic producers. It rose by 5.85%, gaining 1.60 points to close at $28.94. Range and NRG grew by 3.49 and 1.43 points respectively. Range Resources shares closed the day at $64.29, and NRG Energy closed at $26.40. Chesapeake Energy gained 5.38%, or 1.43 points, to close at $15.28 per share.
Royal Caribbean Sets A Good Example For The Consumer Luxury Sector. Royal Caribbean's (RCL) management has a lot to do with the fact that share prices are still on the rise despite falling spending. The company is expanding into China, and developing models based on Asian passengers. India is also a growing consideration for cruise lines. Shares of Royal Caribbean rose 5.47% today, growing by 3.76 points. The stock price closed up to $72.45 per share.
Hamburgers, pizza, and Western movies are all popular. But gambling is also a popular pastime, and the company is providing even more liquor. Smoking is also allowed overseas. Royal Caribbean has also had to hire infrastructure that speaks the language, but so far it's been a very profitable move into the Asian market.
NVidia and Monster Can't Hack It. Lowered spending in the consumer economy is a fact, and it's hurting companies like NVidia (NVDA) and Monster (MNST). NVidia makes or breaks on earnings depending on 18 - 35 year-old male spending. Monster plays in the same demographic, although it's expansion into foreign markets is what really drove home this profits miss. Monster fell by more than -10%, tumbling -15.02 points to close at $128.47. NVidia closed down -7.40%, falling -1.66 points to close the day at $20.83 per share.