📈 Stock market higher on Fed rate confirmation. | The Closing Beat 🎵

Every day when the stock market closes we update our clients and subscribers about the important or interesting things that moved the stock market and your retirement investments. We leave the opinion out…mostly. Our goal is to educate briefly on what moved the stock markets, what may be coming up, and how your investments, or retirement portfolio may have been impacted by the day’s news.

Here’s a look at what investors were focused on today:

The markets were higher today as investors combed through the Federal Reserves minutes from their prior meeting and heard from bankers on Capitol Hill. Investors also noted the ECB overnight which followed in the Fed’s footsteps, suggesting rates remain unchanged for the duration of the year. The Dow 30 was still held back thanks to Boeing but closed up 7. The S&P 500 added 10 on the day and the Nasdaq added 54.
Earnings season is slowly becoming the focus again which is not expected to be a good one. Starting later this week with the large banks, earnings are expected to show growth of only 4.3% for the first quarter for the S&P 500 with revenue in the 5% range. Investors will be looking for names to beat and also raise their forward guidance to offset the weak.
Sector News
Banks were in focus today as many of the CEO’s from the top banking centers testified in front of congress. The banks also have earnings coming up later this week which has held back any strong buying or selling pressure as investors await the latest.
Industrials continued to pullback today and have been lower trending all week long. Pressure continues to come from Boeing (NYSE: BA) which accounts for about 9% of the space. Boeing was lower today and has now sold off back to recent lows and the 200 day moving average.
Stock News
Delta Airlines (NYSE: DAL) shares started the day higher on their earnings report which showed a beat on earnings and revenue. The company also raised 2019 guidance and said they plan to keep consistent capacity as summer travel season picks up. Technical traders noted the limited range toresistance on the gap higher today and chose a profit taking/short position from the open.
Levi Strauss (NASDAQ: LEVI) shares enjoyed a strong day today as the company reported it’s first earnings since going public last month. Though there were not analyst expectations to beat the company did report a profit of 37 cents along with a 7% revenue increase thanks to double digit growth here in the states.
LYFT – record lows today… will affect how much investors will pay for Uber if this continues. Uber to sell $10 Billion ($100 billion value). Uber should price first few weeks in May.
JetBlue (NASDAQ: JBLU) shares were higher on the day on a report that they would announce transatlantic flights with a new branded airline called “all hands.” The airline did not immediately comment on the report but did say that they expected a decent downtick in revenue per seat mile due to more flights completing their journey versus being cancelled.

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