Week of Record Highs on Wall Street

CMG, TWTR, and UBER were among the notable earnings winners this week

Managing Editor
Feb 7, 2020 at 1:29 PM
facebook twitter linkedin

Stocks started the week red-hot, with the Dow Jones Industrial Average (DJI) reeling off three straight triple-digit wins that culminated Wednesday in its best day since July. The S&P 500 and Nasdaq joined in on the fun, as all three benchmarks logged multiple record closes. However, despite an encouraging jobs report on Friday, U.S. equities took a breather to end the week, halting what was four-day win streaks for all three major indexes.

This Week's Earnings Winners and Losers

A positive coronavirus update, China trade tailwinds, and a host of upbeat earnings reports helped fuel Wall Street's big week. With just hours left in the trading week as of this writing, the Dow, S&P 500, and Nasdaq were all cruising toward weekly wins of 3% or more. That's good for the latter two's best week since June 5, and the tech-rich Nasdaq's best week since November 2018. In response, Wall Street's "fear gauge," the Cboe Volatility Index (VIX) has been spiraling, but here's how another VIX surge could unfold.

As is usually the case, there were earnings winners and losers every day this week. Notable winners include restaurant stock Chipotle Mexican Grill (CMG) and social media icon Twitter (TWTR), with the former attracting bull notes and the latter drawing options bulls. Spotify Technology (SPOT) wasn't as lucky, whiffing on earnings and sending the streaming stock to its worst day in years.

Among Dow names, Visa (V) enjoyed two bull notes, while one analyst sees great potential in Nike (NKE) ahead of the 2020 Olympics.

LYFT Tries to Top UBER's Outstanding Corporate Report

Going forward, we could expect travel stocks to remain in focus as investors monitor the coronavirus outbreak. However, that hasn't stopped United Airlines (UAL) stock from flashing a reliable bullish signal. 

Looking at next week, there's another busy slate of earnings. Lyft (LYFT) will try to top ride-sharing peer Uber's (UBER) outstanding corporate report, while semiconductor concern Nvidia (NVDA) steps into the earnings confessional. And for anyone still looking to map out their trading strategy for 2020, we broke down the volatility of low-priced vs. high-priced stocks.


Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 


300x250 - Banner 3 - v1