For Immediate Release
Chicago, IL – July 25, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Bank of America Corp (NYSE:BAC) (BAC), Chevron Corp. (NYSE:CVX) (CVX), Exxon Mobil Corp (NYSE:XOM). (XOM), Johnson & Johnson (NYSE:JNJ) (JNJ) and McDonald's Corporation (NYSE:MCD) ( MCD).
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Here are highlights from Friday’s Analyst Blog:
Dow 30 Stock Roundup: Earnings Galore
The Dow managed to hit new session highs on the first three days of the week before declining on Thursday. The index gained only marginally during each of these trading sessions but still managed to post a record seven straight session long winning streak. Major components posted commendable earnings results before disappointing revenues from an iconic chipmaker pushed the index lower on Thursday. The Dow has gained 0.4% over the first four trading days of the week.
Last Week’s Performance
The index inched up, increasing 0.05%, to notch up a record closing high for the fourth-straight session on Friday following upbeat U.S. retail sales data. Sales at retail stores and restaurants advanced 0.6% in June from the prior month to a seasonally adjusted $456.98 billion. Sales were mostly led by a jump of 3.9% in building and supply stores, its largest one-month increase since Apr 2010.
The positive retail sales report offset disappointing earnings results from big banks. Meanwhile, industrial output expanded at the fastest monthly rate in 11 months. Industrial output increased 0.6% following a decline of 0.3% in May. Industrial output bounced back last month after a downturn over the past 18 months mostly due to weak overseas demand for many products and a stronger dollar.
The Dow surged 2% over last week. Markets had suffered a bloodbath after the surprise Brexit verdict. But benchmarks recovered quickly to hit fresh highs at the end of almost every trading session.
A slew of factors ranging from hints of fresh stimulus measures by the Bank of England and Bank of Japan to stronger-than-expected domestic earnings pushed stocks higher. The uptick also came on the back of a strong jobs and retail sales report, while oil prices also recouped as markets gathered strength.
The Dow This Week
The index increased by nearly 0.1% on Monday boosted by gains in financial and tech shares. Despite this small gain, the blue-chip index again hit an all-time high. Bank of America Corp’s (BAC) upbeat second quarter earnings performance boosted investors’ sentiment and helped bank stocks rally on Monday.
Oil prices fell after a steady rise in crude stockpiles intensified fears of another supply glut. Additionally, an attempted coup in Turkey barely had any influence on Istanbul's Bosphorus Strait as it reopened from a brief closure. The area is known for handling around 3% of global oil shipments. Shares of Chevron Corp. (CVX) and Exxon Mobil Corp. ( XOM) declined 0.9% and 0.3%, respectively.
The index gained 0.1% on Tuesday following Johnson & Johnson’s ( JNJ) commendable quarterly performance. The health-care giant beat expectations and raised its guidance for the year, which eventually helped the Dow post its longest winning streak in three years.
Another Dow component, McDonald's Corporation (MCD) saw its shares advance 2.2% on news that it had closed a deal with Nintendo. The fast food giant is expected to be the first advertiser of the widely popular mobile game Pokémon Go.
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BANK OF AMER CP (BAC): Free Stock Analysis Report
CHEVRON CORP (CVX): Free Stock Analysis Report
EXXON MOBIL CRP (XOM): Free Stock Analysis Report
JOHNSON & JOHNS (JNJ): Free Stock Analysis Report
MCDONALDS CORP (MCD): Free Stock Analysis Report
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