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 | 23238.66991 | +207.46 | +0.90% |
| SP500 | S&P 500 | 6964.82 | +32.52 | +0.47% |
| I:DJI | DOW JONES AVERAGES | 50135.87 | +20.20 | +0.04% |
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. | 274.62 | -3.24 | -1.17% |
| FB | PROSHARES TRUST S&P 500 DYNAMIC BUFFER ETF | 42.54 | +0.12 | +0.29% |
| MSFT | MICROSOFT CORP. | 413.60 | +12.46 | +3.11% |
| TSLA | TESLA INC. | 417.32 | +6.21 | +1.51% |
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. | 98.98 | -0.47 | -0.47% |
| MCD | MCDONALD'S CORP. | 325.60 | -1.56 | -0.48% |
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. | 117.65 | -4.28 | -3.51% |
| PFE | PFIZER INC. | 27.05 | -0.17 | -0.62% |
| BNTX | BIONTECH SE | 110.34 | +3.72 | +3.49% |
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 | 1.34 | -0.14 | -9.46% |
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. | 24.64 | -0.34 | -1.36% |
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%.