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The DJIA rose 0.99% The S&P 500 was up 0.91% The Nasdaq Composite added 0.50%
Financials and industrials led the market.
General Market Review
Financials
Banking stocks were in the green today after regional banks reported that they expect the economy to rebound in the following months. American Express and Capital One Financials added over 4%.
Industrials
American Airlines reported better-than-expected quarterly earnings. The company posted an EPS loss of $3.86 and revenue of $4.03 billion. The short squeeze affected AAL as it became the most shorted US airline stock. American Airline stock gained 9% today.
Tech
Apple reported its largest revenue for its quarterly report at $111.4 billion. Their sales were driven by 5G iPhones as well as all other products. The company beat on EPS, yet the stock fell 3.5% due to beliefs that the price is ahead of fundamentals. Tesla fell 3% after missing on earnings and beating revenue estimates. The company is looking to begin production on its newest model, Model Y, this year.
