Breaking News

Stocks - S&P Ends Higher as Earnings Inspire Rebound

Stock MarketsApr 18, 2019 04:30PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. – Stocks rebounded from session lows to end higher Thursday as gains in industrials helped offset weakness in energy stocks.

The S&P 500 rose 0.16%, the Dow Jones Industrial Average gained 0.42%, while the Nasdaq Composite rose 0.02%. Market volumes were thin heading into the holiday weekend.

Industrials racked up gains as United Rentals (NYSE:URI) and Honeywell (NYSE:HON) rallied after delivering better-than-expected earnings.

United Rentals surged 8.20% and Honeywell rose 3.8% as both companies beat on the top and bottom lines.

But investors had to contend with weaker-than-expected earnings from Genuine Parts (NYSE:GPC) and Skechers USA (NYSE:SKX). Both ended the day sharply lower.

Falling energy stocks also kept gains in the broader market in check, despite oil prices settling higher following data showing Saudi Arabia cut crude exports in February.

In consumer discretionaries, tobacco stocks came under pressure on reports that Senate Majority Leader Mitch McConnell will propose legislation to raise the legal tobacco age in the U.S. to 21 from 18.

Altria (NYSE:MO), Philip Morris International (NYSE:PM) and British American Tobacco (NYSE:BTI) ended the day lower.

Health care stocks pared losses to end just above the flatline, finally showing resilience after steep losses on concerns that government reforms could destabilize the sector.

UnitedHealth (NYSE:UNH) CEO David Wichmann told analysts in a conference call earlier this week that proposals by Democrats like Medicare for All would "destabilize the nation’s health system and limit the ability of clinicians to practice medicine at their best." UnitedHealth gained 2.3% on the day after two days of losses. It finished the week down 0.7%.

In tech, Snap (NYSE:SNAP) fell 0.7% after Wedbush Securities downgraded its rating on the stock to neutral from outperform.

“With shares currently trading around 8x the consensus 2020 revenue estimate, current valuation appears to leave little room for multiple expansion, as greater investor confidence in current management and the potential for earlier-than-expected profitability appear to be largely priced in,” Wedbush said.

In other company news, Pinterest (NYSE:PINS) and Zoom Technologies (OTC:ZOOM) rallied after making their stock market debuts, adding billions to their market caps.

On the economic front, better-than-expected retail sales, pointing to underlining strength in the consumer also boosted sentiment on stocks.

"A bounce in consumption is consistent with the pendulum of economic sentiment swinging back from the extreme negatives seen last month," BMO said.

Top S&P 500 Gainers and Losers Today:

United Rentals (NYSE:URI), Snap-On Inc (NYSE:SNA) and Union Pacific (NYSE:UNP) were among the top S&P 500 gainers for the session.

Genuine Parts (NYSE:GPC), Regions Financial (NYSE:RF) and Schlumberger NV (NYSE:SLB) were among the worst S&P 500 performers of the session.

Stocks - S&P Ends Higher as Earnings Inspire Rebound

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Write your thoughts here
Are you sure you want to delete this chart?
Post also to:
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email