It was a stellar earnings report for Alphabet (GOOGL/GOOG) that beat on the top and bottom lines. GOOGL is at an all time high, and the future looks bright. Google is lifting tech stocks higher this morning and the Nasdaq is up 72 points to 7914.
All the major indices are up on the day as the earnings parade continues. Verizon (VZ), Lockheed Martin (LMT), Biogen (BIIB), Eli Lilly (LLY), and Harley Davidson (HOG) are all up on earnings beats. On the other end, 3M (MMM) is down 2% after a disappointing quarter.
So far this morning, advancers far outpace decliners 1669/960 on the NYSE and 1509/1099 on the Nasdaq. Energy, Materials and Technology are the strongest sectors.
Financials are up again today as the 2-year Treasury is up and the benchmark 10-year is stable at 2.97% after its big run up yesterday. The only economic news this morning was the FHFA Housing Price Index for May, which was up .2%, but it was below the forecast for an increase of 0.4%.
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