Indices gained a little Monday, but not a spectacular rise for the first trading day of May. Investors will be worrying about movements in Europe from the ECB and the Brexit vote, which is due in June.
On home soil, ISM manufacturing PMI disappointed, coming in at 50.8 and missing estimates of 51.6. This week the main focus of economic data will be on unemployment figures and non-farm payrolls due on Thursday and Friday respectively.
Gold managed to hold firm near the new high it posted toward the end of last week, but Oil has lost momentum somewhat. Although it’s not slamming down hard, it may have found it’s short term resistance for now, and search for a support is on the way.
Some stocks that were gaining on the day are as follows:
(NFLX) Netflix gained 3.61% to 93.19 on reasonably thin volume. NFLX recently posted another set of positive results showing an net increase in revenues compared to Q1 2015, and although costs of revenue increased, net income cash flows were up also. Investors seem to have found value in the stock above the $90 level.
On the gainers list today is (AMZN) Amazon, which also recently published a set of results that beat forecasts and gave investors’ confidence that the business is still on a strong footing for growth in its many markets. AMZN gained 3.56% to end the day at $683.57.
With a gain of 3.30% (MDLZ) Mondelez pushed higher to end the day at the 2016 high as the string trend from the February low continues. MDLZ posted strong numbers last week, and even though revenue fell, they still beat all forecasts, and posted a 0.48 EPS, beating estimates by 0.09. It looks like the trend is string and could be a good stock to watch.
Data sourced from: https://www.stockmonitor.com/quotes/