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Stocks @ Night
S&P 500 Breaches New Record High
The S&P 500 briefly crossed the 6,100 mark for the first time on Wednesday, setting a new intraday high, and closing at 6,086.37, just 4 points from a record close. The Nasdaq Composite and the Dow Jones Industrial Average still have some distance to go to reach their respective records.
Notable Stocks
- Netflix saw its stock soar nearly 10% after posting earnings report, adding 10 million subscribers and reaching $954 a share, just short of $1,000. It was the company’s best day since October.
- Disney was flat on Wednesday, but is up 12.5% in the past three months.
- Amazon set a record close, up 1.8%, and is up 23.9% in the past three months.
- Johnson & Johnson was down 2% despite beating earnings estimates, and is down 11% in the last three months.
- Procter & Gamble rose 2% after posting better-than-expected earnings, but is down 3% in the past three months.
- GE Vernova jumped 2.7% on its report, and is up 271% since being spun out of General Electric last March.
Earnings and Pre-Market Movers
- Earnings movers include Travelers, up 3%, and United Airlines, down 2.3% after its report.
- Thursday’s pre-market movers include GE Aerospace, up 6.6% in the last three months, and health insurance provider Elevance, down 6.9% in the last three months.
- After the bell, Texas Instruments is up 1.6% in the last three months.
Semi Strength
- The VanEck Semiconductor ETF jumped 2%, hitting its highest level since July, and is up 10.3% this year.
- Arm Holdings, a big winner in the space, was up 16% on Wednesday.
Bruised Apple
- Apple’s market cap has fallen nearly 14% from its Dec. 26 high, losing nearly $550 billion in market value, more than all but 13 members of the S&P 500.
Dry January
- The group of alcohol stocks, including Brown-Forman, Constellation Brands, Boston Beer, Diageo, and Molson Coors, are continuing to feel pressure, with most down around 10-20% this year.