Watch Us LIVE from the Floor of NYSE! January 27, 2017 Financial News – Business News – Stock News – Market News – Stock Exchange
CLICK HERE➡ ➡ http://FinancialBuzz.com
Business News – Financial News – Stock News — New York Stock Exchange — Market News 2017
Business News – Financial News – Stock Exchange — Wall Street — Market News – New York Stock Exchange 2017
On Monday, markets were down slightly as President Trump signed executive orders to withdraw the U.S. from the Trans-Pacific Partnership trade deal and on statements he made saying he will try and renegotiate the North American Free Trade Agreement.
On Tuesday, existing home sales for December fell 2.8% to an annualized 5.49 million. President Trump also signed more executive orders making it easier to finish building oil pipelines within the country. Markets rallied strongly with the S&P 500 reaching an all-time high and the yield on 10 year Treasury notes ending at 2.46%.
On Wednesday, the EIA petroleum status report for the week ending January 20th showed crude oil inventories increasing 2.8 million barrels. President Trump continued issuing executive orders pertaining to enforcement of immigration laws, and also spoke of his intent to build a wall on the southern border of the U.S. Trump’s aggressive start to his administration, along with some good corporate earnings reports boosted investors’ sentiment and markets rallied strongly, with the Dow Industrials gaining 155 points to close above 20,000 for the first time. The S&P 500 also closed at a record high. 10 year Treasuries closed at 2.52%, and the U.S. dollar fell against most major currencies.
On Thursday, jobless claims for the week ending January 21st jumped 22,000 to 259,000 and new home sales for December fell over 10% to an annualized rate of 536,000. Markets ended the day mixed.
On Friday new orders for durable goods in December fell .4% compared to the prior month’s 4.8% decline, and the first estimate of the fourth quarter GDP came in at a disappointing 1.9%. Markets opened slightly lower. Now let’s take a look at some stocks.
Alibaba Group Holding Limited (NYSE: BABA) raised its revenue outlook as the Chinese e-commerce giant posted strong third quarter revenues, thanks to robust sales in core commerce and cloud computing. The company said revenue rose 54 percent to $7.7 billion in the fiscal third quarter, and it marks the third consecutive quarter of revenue growth greater than 50%. Shares up over 4% on the news.
On Wednesday, shares of Boeing Company (The) (NYSE: BA) rose after its report of fourth quarter results showed revenue dropping 1.2% to $23.3 billion, slightly surpassing analysts’ estimates of $23.1 billion. Adjusted earnings per share were $2.47, above expectations of $2.32. The company also repurchased 55.1 million shares for $7.0 billion during 2016.
Verizon Communications, Inc. (NYSE: VZ) shares fell over 4% percent after the company posted disappointing earnings of $0.86 per share on revenues of $32.3 billion. Analysts were expecting $0.89 per share on revenues of $32 billion. Verizon added a net 591,000 retail postpaid subscribers in the quarter and increased its retail connections by 1.9% year over year to 114.2 million.
On Monday, U.S. District Court Judge John Bates denied Aetna, Inc. (NYSE: AET) and Humana, Inc. (NYSE: HUM) merger deal, saying it violated antitrust law. In his ruling, Bates wrote the merger would be likely to substantially lessen competition for health insurance sold on the public exchanges. Shares of Aetna closed down almost 3%, while Humana shares gained more than 2%.
© 2011 Financial Buzz. All rights reserved. No portion of FinancialBuzz.com may be duplicated, redistributed or manipulated in any form without our consent, violators will be prosecuted to the full extent of the law.