Wall St Summary
Wall St Summary
PG, HAL, NFLX, XOM, AAPL, SBUX
All 3 US Major Market Indexes posted their 4th straight weekly advances.
Thomson Reuters data through Friday shows that of the 147 S&P 500 companies that have reported earnings so far, 68% exceeded expectations. Since Y 1994, 62% of companies have topped Street estimates.
The S&P 500 closed above 1500 for the 1st time in 5 yrs Friday, capping its longest streak of daily gains since Y 2004, amid better-than-expected earnings from Procter & Gamble NYSE: PG, Halliburton NYSE:HAL and others.
The Standard & Poor’s 500-stock index added 8.14 pts, or 0.5%, to 1502.96, its highest close since 10 December 2007. The index rose for 8 sessions running, the longest such streak since a 9-day run in November 2004.
The DJIA advanced 70.65 pts, or 0.5%, to 13895.98. The NAS Composite Index gained 19.33 pts, or 0.6%, to 3149.71.
Volume and Breadth: About 6.4-B/shares traded on the NYSE, the NAS and NYSE MKT, below the daily average during January 2012 of about 6.93-B/shares. On the NYSE, more than 3 issues rose for each 2 that fell, on the NAS, 5 stocks advanced for each 4 that declined.
Consumer-discretionary shares in the S&P 500 led gains across all of the index’s 10 Sectors as Netflix NASDAQ:NFLX jumped 15%, rallying for a 2nd day after reporting a better-than-expected subscriber increase for Q-4.
P&G rose 4%, leading the DJIA, after the consumer-products company reported F-Q-2 earnings and revenue that exceeded analyst estimates, and raised its outlook for Y 2013.
Starbucks NASDAQ:SBUX, the world’s largest coffee-shop operator, advanced 4.1% +2.24 to 56.81. Net income increased to $432.2-M in F-Q-1 from $382.1-M a year earlier, the Seattle-based company said late yesterday. Comparable sales in the Americas rose 7% in the frame, beating estimates for a 5.9%gain.
Exxon Mobil NYSE: XOM knocked Apple NASDAQ:AAPL off as the world’s largest company by market capitalization. Exxon finished up 0.4%, Apple fell 2.4%, extending its year-to-date decline to 17% and 33% since its September 2012 highs.
Caterpillar Inc. NYSE:CAT slid 1.1% to 95.58 for the 2nd biggest drop in the DJIA. The world’s #1 maker of construction and mining equipment reported the first decline in retail machine sales in more than 2.5 yers after a slowdown in Asian demand.
Heffernan Capital Management
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Paul A. Ebeling, Jnr.
Paul A. Ebeling, Jnr. writes and publishes The Red Roadmaster’s Technical Report on the US Major Market Indices, a weekly, highly-regarded financial market letter, read by opinion makers, business leaders and organizations around the world.
Paul A. Ebeling, Jnr has studied the global financial and stock markets since 1984, following a successful business career that included investment banking, and market and business analysis. He is a specialist in equities/commodities, and an accomplished chart reader who advises technicians with regard to Major Indices Resistance/Support Levels.
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