The Dow hit a new closing record crossed the 34,000 milestone after jumping 300 points fueled by strong economic date and better than expected earnings report that indicated economic rebound.
Nine of the 11 major sectors of the S&P 500 closed in the positive territory with the real estate, technology and health sectors closing at least 1.7% higher for the session.
The tech-laden Nasdaq rallied higher led by more than 5% gain in shares of Advanced Micro Devices, Inc.
On Thursday, the Commerce Department reported that retail sales jumped 9.8% in March surpassing the consensus estimate of a 5.9% rise and previous months’ 2.7% decline.
The figures are much lower than the consensus estimate of 702,000 new claims. The number of initial claims dropped below 600,000 for the first time since the pandemic began a year and more ago and touched a new low.
Bank of Americareported first-quarter 2021 earnings of 86 cents per share surpassing the Zacks Consensus Estimate of 65 cents.
However, revenues were down 7% year over year to $19.3 billion during the March-ended quarter, though it surpassed the Zacks Consensus Estimate of $18.9 billion.
The better-than-expected results can be attributed to revenue growth at both Optum and, the community and senior benefit businesses of UnitedHealthcare.
Production report came in much lower than the consensus estimates of 2.6% rise, mainly due to steep decline in output from power utilities, as weather switched from unseasonably cold to unseasonably warm.
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Pfizer confirmed in an email that Pfizer CEO Albert Bourla met with Suga virtually to discuss vaccine supply on the last day of Suga’s three-day visit to Washington.
Taiwan’s tech-focused exports have soared during theCOVID-19 pandemic because of global demand for laptops, tablets and other equipment to support the work-from-home boom, driving its trade surplus with the United States and jacking up the value of the Taiwan dollar.
that have yet to prove their viability as revenue-generating, profitable entities have lost their shine over the past few months amid concern about valuations and as established carmakers like VW move faster into EV fray.Read more: The End of Tesla’s Dominance May Be Closer Than It AppearsThe industry’s multi-billion dollar surge also hasn’t escaped Beijing’s attention.
The Biomark Chart: After reaching an all-time high of 42 cents on March 17, Biomark’s stock settled into two bullish patters — a daily bull flag and a daily symmetrical triangle — before breaking bullish on Friday and making a new all-time high on large bull volume.
With this in mind, we used TipRanks’ database to identify two stocks that boast a Strong Buy analyst consensus rating and considerable upside potential – on top of impressive recent gains.
Retail sales in Europe, Harley’s second biggest market outside the United States, slumped 36% to 4,900 motorcycles, due to the company’s decision to stop selling its smaller and less profitable Street or Sportster motorcycles and shipping delays as a result of the COVID-19 pandemic.