The DJIA rose 0.49%
The S&P 500 added 0.52%
The Nasdaq Composite rose 0.84%.
All three closing at record highs. Materials led the broader market with Linde and Newmont Goldcorp having big gains.
General Market Review
Energy
Energy stocks were in the red due to reduced oil demand forecasts for 2021 as oil prices continued to rise to a nine-month high.
Tech
Alphabet fell 1% after a group of state attorney generals filed a lawsuit for alleged antitrust practices, the company’s third lawsuit in the span of months.
Stimulus
House Speaker Nancy Pelosi hopes to have the final legislation for the bill later today, as the stimulus bill nears finalization.
Jobless Claims
Jobless claims increased to a three-month high of 885,000 for last week, above estimates of 800,000 claims.
Earnings
FedEx beat expectations for adjusted EPS and revenue, respectively, with $4.83/share and $20.6 billion, as the company has had a high volume of domestic and international deliveries. Shares have fallen over 3.5% during afterhours trading over the lack of an earnings forecast for 2021 due to continued Covid uncertainties.
Rite Aid’s shares surged 18% as their earnings positively surprised investors due to growth in retail pharmacy services.
