Stocks Release Dow Jones Stock Boeing, Caterpillar Report

Shares opened mixed but fell lower early on Wednesday, when investors worked through a crowded earnings calendar. Dow Jones shares Boeing (BA) and Caterpillar (CAT) reported before the opening. Microsoft (MSFT) and Facebook (FB) are among those to be reported after the trip.


Nasdaqen put a fraction higher on the starting bubble, as the depth 0.1%. Dow Jones Industrials and S & P 500 each traded down 0.1%.

At Dow, Boeing received 0.7% after his report. Caterpillar tumbled 3.3%, despite meeting forecasts. Dow Jones shares Microsoft fell 0.5%, with its revenue-generating third quarter following Wednesday's closing clock.

elsewhere on the revenue front, eBay (EBAY), Manhattan Associates (MANH) and Teradyne (TER) posted broad, early gains. Domino's Pizza (DPZ) and Silicon Labs (SLAB) also increased while IRobot (IRBT) and Robert Half (RHI)

Telecom giant AT & T (T) tumbled nearly 3% on mixed results in the first quarter.

Anadarko Petroleum (APC) spiked 12% while Occidental Petroleum (OXY) slid 2%. Occidental increased its takeover bid for Anadarko, attempting to persuade Dow Jones stock Chevron (CVX). Among IPOs, Warrior Coal (HCC), Jumia Technologies ] (JMIA) and MongoDB (MDB) all rose in early action.

Facebook was opened to limit the losses before the earnings profit afterwards. Other names due to report after the cross field include Tesla (TSLA), Visa (V) and Xilinx (XLNX).

Nasdaq, S & P 500, Dow Jones Near Records

Nasdaq Composite hit a new closing level high on Tuesday, and on Wednesday we traded only a fraction below the record high of 8.133. The S & P 500 was just below its September 21st peak of 2940. The Dow Jones industry ended Tuesday's 1.1% of its 26,951 high, calcified on October 3.

Small caps continue to be market laggards, with Russell 2000 still nearly 10% of its August 31 record. S & P Smallcap 600 remains more than 13% from August high. Both indices continue to fight resistance at their 200-day moving average.

A move to fresh heights would be a bullish signal for the overall market.

For more detailed analysis of the current stock market and the confirmed trend study the big picture . [19659017] Dow Jones Revenue: Boeing, Caterpillar

Caterpillar relied on the early gains and fueled 3.3% after revenues increased by 4.7% and earnings rose 4.3%. Both figures met expectations, with the earnings number adjusted to exclude a 31 percent tax advantage. The company also reported a $ 178 million benefit from the revised tax system.

Caterpillar shares climb on the right side of a six-month consolidation.

A busy morning for aviation safety / defense revenue reports from Boeing, Northrup Grumman (NOC) and General Dynamics (GD). Boeing strengthened up to a 1.2% gain, despite reporting both revenues and revenues during analysts' assessments. Losses of 737 deliveries drove 9% commercial airline revenue in the first quarter. The company said that the entire end of 2019 would be delayed for further notice.

Boeing shares are down 16% from March height, but support 40-year moving averages.

Boeing carries 9.5% of the Dow Jones industrial weighting. Caterpillar weighs in at 3.6%.

Earnings News: Domino's, Silicon Labs, eBay

Domino's Pizza cut 10% higher in early action, despite mixed results in the first quarter. The shares are trading just below a 297.27 place of purchase in a two-month cup base.

Silicon Laboratories spiked 14%, as earnings hit analysts' expectations and revenues fell in line with views. The management increased the income guidance for the second quarter well above the analyst's goals. Stocks move up the right side of a 10-month cup base that has reset Silicon Lab's base number. The potential purchase point is 110.80.

EBay fluctuated 4.7% higher as analysts weakened stock price target after strong quarter results late Tuesday. Among the increase, Piper Jaffray increased the share price target to 35, from 32. Raymond James increased his goal to 44, from 39. JPMorgan raised its target to 39, from 36.

The EBay share ended Tuesday not far from several potential buy points. They include a 39.24 entry in a 16-month plate base, and a 38.43 buy-in on an eight-week double-bottomed base.

IPO Watch: Warrior Tops Buy Point

Among IPOs, Zoom Video spoke 0.5% on the open, while Jumia Technologies weakened a 6% gain. The Renaissance IPO ETF (IPO) rose 0.9%.

Warrior Met Coal jumped 1.6% in early trading, just enough to clear a 32.16 point of sale in a three week tight pattern. The company announced a special cash dividend late Tuesday, at USD 4.41 per share.

Oil Prices: Supply Data Due

Oil prices will remain a problem as markets move towards May 2, expiry of exemptions that had allowed large buyers of oil to continue doing business with Iran. Buyers, including China and India, are now either encrypted to replace that source of heavy crude oil, or choose to violate US sanctions and risk allocation from the Trump administration. The administration says it intends to drive Iran's oil exports to zero. The country has reported exporting 1.4 million barrels a day in March.

West Texas Intermediate oil prices rise by 57% from December to December and finish Tuesday at their highest level since October 29. WTI crossed a fraction lower early on Wednesday, holding just over $ 66 a barrel. Europe's Brent commodity standard moved up to thin gains and traded over $ 74. Oil prices may see some impact from weekly oil investment data released by Energy Information Administration at. 10.30 ET.

Follow Alan R. Elliott on Twitter @IBD_Aelliott

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