Back in Business . Equities rose across the board on Friday, with all three major market indices slipping gains. After a dry spell, the first quarter's earnings season finally emerged, with bank earnings increasing the investors' mood and many more big names on tires next week. Finally, a disturbance to the lack of news about negotiations between the US and China. In today's After the Bell, we …
… cheer results for the first quarter;
… examine other data; and
… see Anadarko hovering.
Ending on a High Note
Having waffled and waited, investors were happy to have some news than rumors of trade negotiations against some kind of deal – hopefully.
Dow Jones Industrial Average
climbed 269.25 points or 1.03% to 26412.30, while
added 19.09 points, or 0.66% to 2907.41, and
won 36.80 points or 0.46% to 7984.16. Each of the indexes ended for the week, with Dow eking out a 0.1% gain, S&P up 0.5%, and Nasdaq leading the package with a 0.6% increase.
Investors were cheering it
(JPM) started the first quarter reporting season with some good news, although not all of its co-banks could say the same. Searching
Bank of america
(GS) to report next week. While shareholders had a reason to rejoice, the results could also work well for other banks: Sandler O & # 39; Neills Jeffery Harte notes that there are positive readings for peers in JPMorgan's better-than-expected fixed-income rates
Not all sectors will necessarily see similar results, LPL Research's John Lynch writes. He notes that while healthcare, utilities and real estate agents are expected to see a small surplus during the year, oil decline means that the energy sector's earnings could fall by over 20%. In addition, analysts leap for double-digit decline in the technology sector's earnings. Combined, energy and technology are likely to be responsible for about 70% of S & P 500's expected 4.6% drop in first quarter earnings.
Still, earnings are only a piece of the puzzle. While the markets are clinging to drops of tariff news, other good news is to digest. Data from China out of the night showed that exports rose 14.2% last year last month, well ahead of expectations. It's not great news, but it's a welcome departure from recent periods of fall. And it certainly does not add to the fear that global growth is still weakening. JPMorgan's John Normand writes that his company's economists encountered their Forecast Revision Index with the largest amount of nine months on the heels of the latest data from both the US and China.
stock (APC) shot to the top of the S & P 500, following news
(CVX) plans to buy the company. Anadarko rose $ 14.98, or 32%, to $ 61.78. Chevron was the fourth worst performer in the index, though dropped 4.9%.
The $ 33 billion deal would expand Chevron's reach in the productive Permian Basin – and the question of what
(XOM) next takeover target may be.
Over the past 12 months, the Anadarko stock has been 1.6%.
The greatest loser
Stocks (ANTM) fell to the bottom of the index on another difficult day for healthcare. Anthem lost $ 23.44, or 8.5%, to $ 252.85.
The health service also put it on the chin Thursday, and this trend continued Friday, despite the lack of apparent news with
(HUM) all among S & P 500's worst artists.
Over the past 12 months, the Anthem stock has risen 14.7%.
Write to Teresa Rivas at firstname.lastname@example.org