Apple's earnings-driven gain puts the Dow on pace to top 22000

Posted August 03, 2017

Up on the earnings docket for this week are Apple, Mondelez, Yum Brands and Tesla, among others.

The technology-focused Nasdaq Composite Index (NYSEARCA:QQQ) rebounded from a three-day skid, climbing 0.1% to finish at 6,356.15.

Apple's gains were just enough to help keep the broader U.S. stock indexes out of negative territory, as the benchmark S&P 500 eked out a slight gain and the Nasdaq ended flat.

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The options market is pricing in a big post-earnings move for 3D Systems stock. Shares fell despite the bank's improved second-quarter profit, after executives said the bank still has a long way to go to improve returns. Stock traders acquired 23,279 call options on the stock. The single-session equity put/call ratio rose to 0.64, and the 21-day moving average stayed at 0.62.

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The dip in the dollar - which benefits U.S. exporters - pushed the pound to an 11-month high of $1.3245 against the USA currency. Finally, Cambridge Advisors Inc. boosted its position in SPDR Dow Jones Industrial Average ETF by 0.4% in the second quarter.

Active investors are typically interested in the factors that drive stock price movements.

Approximately 90 minutes after yesterday's close, shares of AAPL stock were up almost 6% in after-hours trading.

Pharmaceutical company Pfizer Inc. beat profit estimates but missed on revenue as shares were up 0.5% in premarket trading.

The blue-chip index notched its fifth straight record close, gaining 0.3% to 21,963.92.

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U.S. private employers added 178,000 jobs in July, below economists' expectations, a report by a payrolls processor showed on Wednesday, ahead of the U.S. Labor Department's more comprehensive non-farm payrolls report on Friday.

Tesla, Sturm Ruger, AIG, CenturyLink, Cheesecake Factory, Fitbit, MetLife, Prudential, Square and Take-Two Interactive will follow after the close.

US stocks opened higher on Wednesday, with the Dow breaking the 22,000 milestone for the first time, as shares of Apple soared following strong quarterly earnings. The Nikkei closed up 0.5%.

The pan-European FTSEurofirst 300 index .FTEU3 lost 0.46 percent and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 0.13 percent.

Alan Ruskin, head of G10 forex at Deutsche Bank, noted the top five PMIs were all Northern European economies and every index in Europe was now in expansionary territory above 50. At last check, London's FTSE 100 was seen 0.4% lower, Germany's DAX was off 0.2%, and the French CAC 40 was down 0.1%.

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