A nice earnings release from a Money Center bank, a surge in Disney and a big deal in the oil patch gave stocks a nice boost this morning and the market averages were able to hold onto their gains throughout the trading session. JP Morgan Chase had a very clean earnings beat which spurred the financial sector, while the Chevron deal for Anadarko gave the energy group a boost. Disney unveiled their new streaming plans last night and market participants were absolutely giddy about it. All in all, a good day for stocks.
By the close, the Dow Jones Industrial Average was up 269 points to finish the day at 26,412. The S&P 500 was up 19 points to close at 2,907. Gold was up $1 to trade at $1,294 per ounce, while oil was up $.21 to trade at $63.79 per barrel WTI.
Earnings season is in full bloom next week. Today was a nice start. Enjoy the Masters this weekend and we’ll be back at it next week.
Have a great weekend everyone.