US Dollar continues the Dive
Positive Earnings are back in the game
U.S. stocks extended their winning streak to five days, led by blue-chips Apple and Cisco, as investors shrugged off fears of rising inflation and hunted for opportunities after last week’s sell-off. Even though the Dow Jones traded down 84 points at its session low; Dow gained more than 300 points, with Boeing being the biggest contributor of gains. The S&P 500 added 1.2%, with financials and tech as the best-performing sectors. After falling as much as 0.2% in the beginning of the session, NASDAQ rose 1.6%. Gains in Amazon, Netflix and Alphabet boosted the heavy-tech index. The major averages all closed sharply higher on Thursday, climbing back further from the correction levels hit last week where the “Buy the Dips” rolled back in the trading arena. From the Earnings Calendar, Cisco Systems reported better-than-expected earnings and the stock jumped 3.3%. The company also posted its first year-over-year revenue increase in more than two years. Last Thursday, the indexes dropped 10% below their record highs set on January 26th. Investors and traders shock was mainly due to a surge in interest rates to levels not seen in years.
Apple is Warren Buffet’s top investment