And if you can, please contribute to Geller Report. YOU make the work possible.
Stocks touch new records as earnings fuel gains
IBM, Netflix and Johnson & Johnson all reported
So far, 51 companies, or 10 percent of the S&P 500, have reported their results with 71 percent beating on both earnings and revenue, according to Refinitiv.
Both the Nasdaq and S&P 500 touched all-time highs, and the Dow Jones Industrial Average was within striking distance of a record.
IBM reported better-than-expected results and raised its 2020 outlook.
Netflix beat on both the top and bottom lines, but its subscriber growth in the U.S. fell short of expectations.
Johnson & Johnson was lower after reporting fourth-quarter revenue that missed Wall Street estimates.
Elsewhere, Boeing remained near its lowest level in a year after the planemaker pushed back the timeline Tuesday for the 737 Max’s return to service.
Tesla shares rallied to record highs after Wedbush analyst Dan Ives raised his price target to $550 from $370, citing underlying strength in China.
West Texas Intermediate crude oil slid 1.4 percent to $57.57 a barrel after International Energy Agency Executive Director Fatih Birol said U.S. shale production will lead to an “abundance of energy supply in terms of oil and gas,” according to Reuters.
Meanwhile, gold slipped 0.1 percent to $1,556 an ounce.
U.S. Treasurys were fractionally lower, causing the yield on the 10-year note to climb by 1 basis point to 1.779 percent.
In Europe, Britain’s FTSE fell 0.3 percent while Germany’s DAX and France’s CAC were little changed.
Markets rallied across Asia with Hong Kong’s Hang Seng up 1.3 percent, Japan’s Nikkei higher by 0.7 percent and China’s Shanghai Composite gaining 0.3 percent.
Have a tip we should know? Your anonymity is NEVER compromised. Email firstname.lastname@example.org
The Truth Must be Told
Your contribution supports independent journalism
Please take a moment to consider this. Now, more than ever, people are reading Geller Report for news they won't get anywhere else. But advertising revenues have all but disappeared. Google Adsense is the online advertising monopoly and they have banned us. Social media giants like Facebook and Twitter have blocked and shadow-banned our accounts. But we won't put up a paywall. Because never has the free world needed independent journalism more.
Everyone who reads our reporting knows the Geller Report covers the news the media won't. We cannot do our ground-breaking report without your support. We must continue to report on the global jihad and the left's war on freedom. Our readers’ contributions make that possible.
Geller Report's independent, investigative journalism takes a lot of time, money and hard work to produce. But we do it because we believe our work is critical in the fight for freedom and because it is your fight, too.
Please contribute here.
Make a monthly commitment to support The Geller Report – choose the option that suits you best.