S&P 500, Nasdaq hit record highs with Apple, Tesla earnings on tap
Apple, Facebook, Microsoft and Tesla report this week
The S&P 500 and the Nasdaq Composite climbed to record highs Monday as investors readied for a busy week of technology earnings and the busiest for the fourth quarter reporting season.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:COMP | NASDAQ COMPOSITE INDEX | 22954.322403 | -561.07 | -2.39% |
| SP500 | S&P 500 | 6796.86 | -143.15 | -2.06% |
| I:DJI | DOW JONES AVERAGES | 48488.59 | -870.74 | -1.76% |
The benchmark S&P 500 added 0.36% and the tech-heavy Nasdaq Composite was higher by 0.69% while the Dow Jones Industrial Average fell 36 points, or 0.12%. The Dow finished 0.7% below its own record peak.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 246.70 | -8.83 | -3.46% |
| FB | PROSHARES TRUST S&P 500 DYNAMIC BUFFER ETF | 42.03 | -0.47 | -1.12% |
| MSFT | MICROSOFT CORP. | 454.52 | -5.34 | -1.16% |
| TSLA | TESLA INC. | 419.25 | -18.25 | -4.17% |
The advance gave the Nasdaq a fourth straight record-high close as investors await earnings from heavyweights Apple Inc., Facebook Inc., Microsoft Corp. and Tesla Inc. later this week.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 93.66 | +0.67 | +0.72% |
| MCD | MCDONALD'S CORP. | 302.84 | -4.59 | -1.49% |
Other companies set to report their quarterly results over the next five days include McDonald's Corp. and Starbucks Corp. as well as the major airlines, among others.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MRK | MERCK & CO. INC. | 109.45 | +0.62 | +0.57% |
| PFE | PFIZER INC. | 25.52 | -0.13 | -0.51% |
| BNTX | BIONTECH SE | 105.56 | -3.44 | -3.16% |
Elsewhere, Merck & Co. ended its pursuit of a COVID-19 vaccine and will instead focus on the development of therapeutics for those who already have the disease.
The Pfizer-BioNTech vaccine was approved for emergency use in Australia and AstraZeneca Plc told European Union officials that production problems would result in the delivery of 60% fewer vaccines than promised in the first quarter.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 1.57 | -0.04 | -2.48% |
Meanwhile, AMC Entertainment raised $917 million in debt and equity, tabling talk the embattled movie chain would file for bankruptcy. The company said the funds extends its financial runway "deep into 2021."
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP. | 21.10 | 0.00 | 0.00% |
GameStop shares squeezed higher Monday as short-sellers continued to rush for the exit after short interest recently reached more than 150% of shares outstanding. The stock had soared 226% from its Jan. 12 close through Friday.
In commodities, West Texas Intermediate crude oil rallied 50 cents to $52.77 per barrel and gold slipped 80 cents to $1,854.90 per ounce.
European markets were lower across the board with Britain’s FTSE 100 weaker by 0.84% while France’s CAC 40 fell 1.57% and Germany’s DAX 30 lost 1.66%.
In Asia, China’s Shanghai Composite index added 0.49%, Japan’s Nikkei 225 advanced 0.67% and Hong Kong’s Hang Seng index climbed 2.41%.