Stocks bounced back from initial losses on Wednesday near a moderate growth. In the Dow Jones Industrial average rose 0.3% to end a five-day losing streak. In the Nasdaq was down 0.1%, however, to take their losing streak to five days.
Most of the 11 major groups sector moved higher, with energy and telecommunications services, adding 0.8% apiece. Three sectors closed in negative territory, including financial and tech stocks.
The us Treasury yields and earnings remain in focus, while the yield on 10-year bonds to increase above the level of 3%, closing at 3.03% — a high not seen since 2014. 2-year yield hit 2.49%, its highest closing level in almost a decade.
Turning to earnings, Boeing (Ticker NYSE:BA) rose 4.2% after crushing top and bottom line estimates. Other reporters Texas instruments Incorporated (Nasdaq:TXN), Anthem Inc (US:industry, Finance and technology), and “Norfolk southern” korp. (Ticker NYSE:NSC) Added between 4.7% and 8.1% on better-than-expected results.
On the other hand, Twitter Inc (NYSE Ticker:market) fell by 2.4% despite beating estimates as the crackdown on bots and other questionable accounts, it seems, will put pressure on the growth of the user. And capital financial Corporation (Ticker NYSE:KOF) lost 4.8% after missing estimates.
After the close, Facebook Inc. (Nasdaq:FB) rose 5.5% to trade up to 170 $after reporting a profit of $1.69 per share vs. $1.36 estimated at $12 billion in revenue. Daily active users, an increase of 13% compared to last year, laying to rest #deletefacebook fears.
On a technical basis, the S&P 500 index once again bounced near its 200-day moving average — a level which, apparently, will never be broken in the history of mankind. In addition, the upward rising interest rates is gaining momentum before the next fed policy meeting next week that would all but confirm another rate hike in June.
Check Serge Berger’s trade of the day for April 26.
Today the retail landscape
To see a list of companies reporting in earnings today, click here.
The list of economic reports this week needs to go, click here.
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Anthony Mirhaydari is founder of the edge (etfs) and edge Pro (variants) of the investment newsletters. Free two – and four-week study of offers extended to InvestorPlace readers.