Dow soars to new record as earnings boost stocks
The Dow is jumping as earnings give stocks a big boost. Plus, Trump’s in Davos with a big speech coming up. Will ‘America First’ give markets a jolt in the a.m.? And, Starbucks and Intel will report any minute now. Plus, watch out Coinbase, another startup is offering bitcoin trading—with no fees. Is this another big moment for crypto?
Winners and losers
Stocks in the red today include Ford as it missed on earnings, blaming commodity prices and currency exchange rates; Best Buy as Telsey Group downgraded it to Market Perform, claiming the potential of negative comps later in the year; and Philip Morris, with shares getting hit as the FDA ruled the tobacco maker couldn’t claim its new e-cigarette can reduce the risks of tobacco-related diseases.
Stocks in the green include 3M as the consumer products maker beat on earnings and issued an upbeat profit forecast; Lionsgate as the studio’s vice chairman revealed on CNBC that it would be open to a deal with a number of suitors; and Kroger, with shares higher as The New York Post reports the grocer and Alibaba are considering an ‘alliance’ targeting mobile ordering and delivery services.
Robinhood gets into cryptocurrency trading
Millennial stock-trading smartphone app Robinhood jumping into cryptocurrencies. Starting next month, Robinhood will offer no-fee buying and selling of bitcoin in five states: California, Massachusetts, Missouri, Montana and New Hampshire.
