Leading stocks have been something of a mixed bag after reporting earnings, with several big-stock names getting slammed this past week. However, leading names have also had their fair share of gap-ups following earnings, helping to propel the major market indexes to new highs.
The NASDAQ Composite posted an all-time closing high on Friday, after posting an all-time intraday high of 8151.84 on Thursday but failing to hold those levels by the close. The market started the day off on Friday by selling off at the bell. But as has often been the case in this rally off the late-December lows, found its feet and closed positive on the day.
Meanwhile, the S&P 500 Index posted an all-time closing high on Friday and remains only 1.03 points away from all-time absolute highs. Thanks to weakness in names like 3M Company (MMM) and Caterpillar (CAT) this past week, the Dow remains more than 400 points, less than 2%, away from all-time highs. For now, the uptrends all remain intact.
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