The markets were higher today thanks to tech stocks, as well as strength in oil and the banking stocks The Dow 30 closed higher by 151, the S&P 500 added 27, and the Nasdaq 100 closed up on the day with a 1.7% gain, or 117 points.
Sector News
Oil was one of the major movers today as prices shifted back into the 50-day moving average. Lack of data from the commitment of traders report due to the government shutdown has caused a touch more volatility intraday. Oil remains stuck right at technical resistance for the week thus far.
Healthcare got a lift today thanks to a strong earnings report from UnitedHealth Group (UNH ). The positive report helped push healthcare stocks just above their 200-day moving average, where they've struggled for the last five trading sessions.
Stock News
JPMorgan (JPM ) was the latest bank to report earnings, which came in below Wall Street's expectations. Revenue came in right in line with expectations. Weakness in investment banking and wealth management were some of the driving factors. Shares were slightly lower on the day.
Wells Fargo (WFC ) shares were lower on the day as the company reported earnings and revenue that failed to impress investors. Revenues from loans came in lower as consumers went elsewhere for their credit. Sales practices continue to haunt the banking giant and shares have moved towards the lower end of their week-long range.
Delta Airlines (DAL ) shares moved lower today as well despite the company reporting earnings and revenue that were basically in line with Wall Street's expectations. Investors responded to their guidance revisions which they said would be lower. Delta expects the first quarter to be slower with some of the blame going to the shutdown.
