Here's a look at what investors were focused on today:
The markets closed out a positive month higher on news that China and the US are having conversations about the trade war and how to make progress. News is that the conversations are productive which helped investors jump back into stocks. The Dow 30 was higher by 108, the S&P 500 added 13 and the Nasdaq 100 gained 41.
The trade news helped stocks that have been sensitive to the back and forth. Names like Caterpillar (NYSE: CAT) reversed course today with a 3% gain. Boeing (NYSE: BA) added 1.5% on the day as well.
Earnings helped stocks this month as over 80% of companies have reported better than expected results. It's still early though as only 58% of the S&P 500 has reported. Analysts are expecting 20% earnings growth for the quarter and so far stocks have not disappointed.
Chipotle (NYSE: CMG) shares suffered a sharp loss today as it was announced that the company had to close a store in Ohio after nearly 100 people fell ill from food borne illness. This is just another story of quality issues that still have to be worked out. Jefferies actually upgraded the stock today saying that the company is positioned for strong earnings growth.
Twitter (NASDAQ: TWTR) shares were higher by 2% today as Nomura upgraded the stock. The analyst said that expectations have been appropriately reset and pricing is where it should be now making it an attractive buy.
Procter & Gamble (NYSE: PG) shares were higher by today as the company reported earnings that were better than expected. The company did report organic sales growth that was weaker than expected which put a lid on performance as well as the performance of the consumer staples sector (NYSE: XLP) which PG makes up 12% of.
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