Five-Year Highs, Mixed Earnings, and Boeing’s Nightmare: Market Recap
The markets rallied on Thursday, pressing against five-year highs on the back of some mixed earnings reports and positive economic data. Initial unemployment claims fell to a five-year low, while housing starts hit a four-year high in December.
At the close: DJIA: +0.63%, S&P 500: +0.67%, NASDAQ: +0.59%.
On the commodities front, Oil (NYSE:USO) climbed 1.16 percent to $95.33 per barrel. Precious metals were also up, with Gold (NYSE:GLD) climbing 0.22 percent to $1,686.80 per ounce, and Silver (NYSE:SLV) climbing 0.60 percent to $31.73 per ounce. The yield on the 10-year T-bill increased 0.057 points to 1.857 percent.
Intel (NASDAQ:INTC) generated a profit and beat Wall Street’s expectation. Despite exceeding analyst estimates, Intel delivered a decline in top-line and bottom-line year-over-year numbers, catalyzing a post-market sell-off… (Read more.)
A near worst-case scenario has come to pass for Boeing (NYSE:BA). The Federal Aviation Administration announced on Wednesday evening that the risk of fire because of battery issues on the 787 Dreamliner requires grounding of the entire U.S.-registered fleet… (Read more.)
News surrounding Facebook’s (NASDAQ:FB) Graph Search has had Yelp (NYSE:YELP) sweating off share value this week, and now an update from Bing puts Yelp in even greater danger of becoming irrelevant, while also casting a shadow on Facebook’s news… (Read more.)