The markets once again shrugged off bad news and pushed to new record highs today. Despite jobless claims coming in under expectations, the House announced that they passed their $4.1 trillion budget which sent the markets higher. The Dow 30 pushed higher by 89, hitting another record high. The S&P 500 also had a good day, adding 14, which makes this the longest winning streak in four years. The Nasdaq 100 also did well, finally pushing back to new, all time highs today as it gained 50.
Amazon (AMZN ) shares popped 1.60% today on news that they are working on their own delivery service. This move seems to be an attempt to cut out Fedex (FDX ), and United Parcel Service (UPS ) which were both initially lower on the news. Trials are currently happening on the West Coast before a national roll out. Shares have been in a trading range for the past few months and today's move sends shares back towards the highs of that range. UPS was lower by 0.67% on the news, though FDX added 0.13%.
Constellation Brands (STZ ) shot up to new highs today, gaining 4.01% as earnings came in better than expected. The adult beverage maker earned $2.47 a share, beating the $2.17 projections. Their beer shipment metrics came in higher by double digits which impressed investors. Recently the company raised prices by 1% which had some analysts concerned that shipments may suffer. Shares of STZ are now higher by over 40% on the year.
Netflix (NFLX ) announced they are raising prices on some of their subscription plans. The standard plan will now cost $1 more a month and their premium plan will go up $2 to $13.99 per month. With recent analyst expectations of higher subscriber growth, shares popped to new highs on the day. The 5.39% gain on the day puts shares higher by 55% on the year.