It finally happened! The Dow Jones Industrial Average broke the 20,000 milestone for the very first time, rising about 160 points as Boeing BA, Caterpillar CAT, and Goldman Sachs GS contributed the most gains. Executive orders from President Donald Trump are helping increase this widespread bullish sentiment on Wall Street.
Zacks #1 (Strong Buy) Biggest Movers
Value: Seagate Technology STX
Momentum: NVE Corporation NVEC
Income: Bob Evans Farms BOBE
DOW: 20,086.02 / +155.31 / +0.78%
S&P 500: 2,298.37 / +18.29 / +0.80%
NASDAQ: 5,656.34 / +55.38 / +0.99%
Times of India reported that Apple (AAPL) executives met with Indian government officials about manufacturing iPhones in the country. Like many tech corporations, Apple is eager to begin assembling its signature product in India, which has become one of the world’s fastest growing smartphone markets in recent years.
Wednesday saw aerospace and defense giant Boeing report its Q4 results before the bell, posting mixed results as its Dreamline finally turned a profit. Its top line missed estimates and declined year-over-year, but its bottom line beat expectations, a good sign for Boeing going forward. The company’s fiscal 2017 guidance is a also a strong sign, showing growth in Boeing’s many business sectors.
The U.S. Energy Information Administration reported this morning that last week, U.S. commercial crude inventories increased by 2.8 million barrels. Futures contracts are stressing that this is the third week in a row crude oil inventories have experienced an increase. Crude futures prices look to be uncertain in the coming year.
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Seagate Technology PLC (STX): Free Stock Analysis Report
Boeing Company (The) (BA): Free Stock Analysis Report
NVE Corporation (NVEC): Free Stock Analysis Report
Goldman Sachs Group, Inc. (The) (GS): Free Stock Analysis Report
Caterpillar, Inc. (CAT): Free Stock Analysis Report
Bob Evans Farms, Inc. (BOBE): Free Stock Analysis Report
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