The S&P 500 Makes Another Run at 1,890

The stock market is up again today. On Friday, the Dow closed at an all-time high, but the S&P 500 hasn’t been able to. At least, not yet. So far this morning, the index is up to 1,887 which is very close to the all-time closing high. We’ve made a few runs at it recently but haven’t been able to bust through.

Every stock on our Buy List is up today except for DirecTV (DTV) which is down slightly. Of course, DTV has been a huge winner for us lately. In the latest CWS Market Review, I raised our Buy Below to $89 per share, and on Friday, the stock got as high as $88.94.

McDonald’s (MCD) is up to a new 52-week high this morning. On Twitter, I had mistakenly said it was a new all-time high, but that has been reached just outside of a year ago. Still, we’re less than $1 away from an all-time high for MCD. Also, note that this is a Dow stock that’s over $100 per share, and that’s part of the reason why the Dow is at a high while the S&P 500 is just shy of one.

Shares of Moog (MOG-A) finally hit $70 per share today. In December, it got to $69.97 before failing to $57 by February. Moog has now made back everything it lost.

We have earnings later this week from CA Technologies (CA). That’s the last earnings report for this cycle (meaning, quarters that ended in March). We have two Buy List stocks, Medtronic (MDT) and Ross Stores (ROST), whose quarters ended in April. They’ll report earnings next week.

So far, this has been a decent earnings season. In the S&P 500, 453 stocks have reported earnings so far. Of that, 76% have beaten on earnings and 53% have beaten on sales. Profits are up 7.2% while sales are up 4%. Of course, estimates were cut back before the start of earnings season.

Posted by on May 12th, 2014 at 9:57 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.