What's moving markets today: April 23, 2019
US stocks closed with a record-breaking bang. Now investors are getting ready for the day ahead, and so are we.
It was a record-breaking day for US stocks.
The S&P 500 and the Nasdaq both broke through the all-time highs they set last year.
First quarter earnings helped propel stocks higher, with health care, technology and consumer stocks posting strong gains.
Snap's (SNAP) stock jumped as much as 10% in after-hours trading Tuesday after the company reported it added 4 million users in the first three months of 2019. It later gave back most of those gains to trade flat to slightly higher.
Snapchat had 190 million daily users during the quarter, up from 186 million daily users in the previous three months.
The company also reported higher revenue than Wall Street expected. Revenue rose 39% to $320 million from last year.
Snap's shares have more than doubled this year. Tuesday's results should help promote the narrative that the company is turning itself around after a rough 2018.
Snapchat also said it's finished rolling out the new version of its Android app, which could help it add more users.
Stocks weren't the only assets rallying Tuesday. US oil futures added to Monday’s gains and hit a 6-month high.
WTI crude oil futures settled at 66.30, up 1.1%, according to the Chicago Mercantile Exchange. US oil has gained a total of 56% since its December low of $42.53 a barrel.
On Monday, oil prices rallied after the US government said it would stop granting sanctions waivers to counties that buy Iranian oil. These exemptions had been in place for China, India, Japan, South Korea and Turkey.
The department store said it will accept Amazon customers' order returns for free — even without the box it shipped in — at all of its more than 1,150 US stores beginning in July.
Shoppers can drop off their returns at customer service desks, and Kohl's will package and ship the items back to Amazon using its own logistics network.
The stock is now up nearly 14% for the year.
The Nasdaq surpassed its record close of 8,110 points thanks to top stocks like toy retailer Hasbro (HAS), which was up a whopping 15%.
The Nasdaq hit its all-time intraday high of 8,133 last September.
The S&P 500 broke above its all-time closing high of 2,930.75 in sday tramorning, and held those gains to close at a new record highoile US stocks were stronger across the board, the S&P was boosted specifically by health care and cyclical consumer stocks.
Meanwhile, the Dow wasn't toofar from own historical best of 26,828 points. It's hovering about 0.6% below that level.
The stock is up 5% today and 120% since the beginning of the year.
Will it continue to race higher? CNN Business will cover Snapchat's earnings live when they come out at 4pm ET.
US markets are off to a strong morning, driven higher by gains in technology and health care, as well as consumer stocks that do well when the market is also performing well.
The S&P 500 is only about 4 points, or 0.1%, away from its all-time closing high of 2,930 points.
Twitter (TWTR) is the index's biggest gainer at nearly 17%, followed by toy retailer Hasbro (HAS) with more than 14%. Both companies reported earnings before the bell. Twitter saw strong user growth last quarter, while sales at Hasbro were encouraging.
In the Dow, Coca-Cola (KO) led the field, rising 1.8%.
Telecom stocks were the weakest across the board. Verizon (VZ) was the biggest loser in the Dow, down 2%. The company reported ailing wireless revenues, but better-than-expected earnings.