Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube

  US Stock Markets Ended April 26, 2019
Posted Under: Weekly Market Commentary

Several key U.S. equity indices closed with all-time highs last week as corporate earnings and economic announcements were strong. The S&P 500 Index closed at an all-time high Friday eclipsing the previous all-time high set on 9/20/2018. The NASDAQ Composite Index also closed at an all-time high passing its previous high set on 8/29/2018. Pegging-out the highlights of last week's rally starts with stronger than expected 1Q GDP of 3.2% compared to expectations of 2.3%. The strength in GDP helped to fuel the U.S. Dollar, as the greenback reached its highest levels since May 2017. Further, earnings season was off to a very good start after, according to Bloomberg, 80% of the 210 names in the S&P 500 that have announced quarterly results have topped estimates. Facebook Inc. beat earnings estimates by nearly 17%, after announcing ad revenue growth of 31%, amid 32% impression growth, which fueled the stock to a 7% gain last week. Microsoft Corp. briefly saw its market cap hit $1t during intraday trading on Thursday after reporting cloud revenue was up 22% year-over-year, the software giant returned over 5% last week. Twitter Inc. shares soared nearly 16% after announcing record earnings fueled by revenue growth of 20% and average daily users of 134m or 11% year-over year growth. Not every stock had positive results. 3m Co. sunk over 13%, the worst daily return in 32 years, after management revealed slowing conditions in key end markets, which is fueling a restructuring effort to drive productivity and reduce costs. Looking ahead to next week, earnings season continues as over 160 companies in the S&P 500 are expected to report quarterly results, including mega-cap technology names Apple Inc., Google Inc., Mastercard Inc. and Qualcomm Inc., along with mega-cap health care names Pfizer Inc., Merck & Co Inc., Eli Lilly & Co and Amgen Inc.
Posted on Monday, April 29, 2019 @ 8:05 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L. P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email

US Economy and Credit Markets Ended April 26, 2019
Consider The Potential Opportunity Costs Before You Sell In May And Go Away!
A Snapshot of Crude Oil Production (U.S. vs. OPEC)
US Stock Markets Ended April 18, 2019
US Economy and Credit Markets Ended April 18, 2019
How Some Major Equity Indices Have Fared In The Recent Correction And Recovery
The Losses Sustained In The Recent Correction Nearly Fully Recouped
US Stock Markets Ended April 12, 2019
US Economy and Credit Markets Ended April 12, 2019
A Snapshot of Growth vs. Value Investing
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial advisors are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA.
First Trust Advisors L.P.
Home |  Important Legal Information |  Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2020 All rights reserved.