The stock market is pushing back to all-time highs once again, as companies continue to beat their expectations for earnings season. Nearly three-quarters of all S&P 500 companies have beaten expectations—a reminder that Wall Street likes to set the bar just high enough for most companies to gracefully jump over it.
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| |  Good morning.. The stock market is pushing back to all-time highs once again, as companies continue to beat their expectations for earnings season. Nearly three-quarters of all S&P 500 companies have beaten expectations—a reminder that Wall Street likes to set the bar just high enough for most companies to gracefully jump over it.
However, less than 60 percent of companies have beaten revenue expectations. That's likely because it's harder to get from revenue—actual money coming into a business—to look as attractive as final earnings after the various accounting adjustments that can be made along the way. So while the earnings numbers are great, it's just a reminder that actual corporate health has slowed down just a tad.
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 | DOW 27,674.80 | +0.66% | | |
| S&P 3,085.18 | +0.27% | | |
| NASDAQ 8,434.52 | +0.28% | | |
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| *As of market close |
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| • | Stocks rallied yesterday, allowing the Dow 30 to hit new all-time highs. | | | • | Oil rose 1.1 percent, to $56.95 per barrel. | | | • | Gold tanked 1.6 percent, to $1,492 per ounce. | | | • | Cryptocurrencies generally fell, with bitcoin hitting $9,250. | | |
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| Insider Trading Reports: Chesapeake Energy (CHK) | |
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The CEO of Chesapeake Energy (CHK), Robert Meyer, made a 50,000 share buy after the company reported poor earnings in the third quarter and the insider trading lockout period for the shares expired. That increased his holdings by 1 percent.
He was joined by director Brad Martin, who bought 250,000 shares as well—a 24 percent increase in the director's stake. Insider data shows that other insiders have been bullish this year, and one major fundholder made a big sale.
» FULL STORY |
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| Unusual Options Activity: Alibaba Group (BABA) | |
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The June 2020 $205 call options on Alibaba Group (BABA) saw over 5,200 contracts trade, a 7-fold surge in volume. The trader is betting that shares, currently around $187, will rally about 9.6 percent higher in the next 224 days—a solid bet if some of the trade war truce headlines prove true this time.
Based on the price paid by the trader of $12 per contract, they'll make a profit if shares are at least $217 come expiration.
» FULL STORY |
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| TOP | | | RL | 14.661% | | | | DISCA | 12.062% | | | | CTL | 11.377% | | | | DISCK | 11.24% | | | | HII | 7.035% | | | | BOTTOM | | | EXPE | 27.386% | | | | TRIP | 22.408% | | | | BKNG | 8.059% | | | | HOLX | 4.86% | | | | JCI | 4.386% | | | |
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| We kinda hate this market. When did we stop liking this market? It's been relatively recent. The market has moved very close to our price target, and many of the catalysts that we talked about have played out… These double-digit returns that we're used to? I think those are a thing of the past. |
- Wells Fargo analyst Christopher Harvey on Wall Street's bullish move in the past few weeks, and why high returns from here look less likely.  |
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