Friends
Stocks were drifting in negative territory this morning, but as the trading session wore on, the momentum stocks shrugged off Netflix’s lousy earnings report and found some nice buying support. On the earnings front Johnson & Johnson delivered a sterling report and the stock bounced nicely after struggling the last few trading session (the result of the baby powder court decision). Though still early, earnings have been stellar (other than Netflix) so far this earnings season.
By the close, the Dow Jones Industrial Average was up 55 points to finish the day at 25,119. The S&P 500 was up 11 points to close at 2,809. Gold was down $12 to trade at $1,227 per ounce, while oil was up $.03 to trade at $68.09 per barrel WTI.
We’ll continue to monitor earnings season, but so far individual stocks have fared well after the company reports. Let’s see if that continues.
Have a nice evening everyone.
