The US stocks got a kick higher after the lighter-than-expected treasury refunding estimates. That pushed yields lower and stocks higher.
The Dow and S&P indices both closed at record-high levels. The Nasdaq index is still over 4% from its all time high close but was the biggest winner of the three major indices with a gain of 1.12% on the day.
The final numbers are showing:
- Dow industrial average rose 224 points or 0.59% at 3833.46
- S&P index rose 36.98 points or 0.76% at 4927.94
- NASDAQ index rose 172.67 points or 112% at 15628.03
The small-cap Russell 2000 applauded the lower rates with a strong gain of 33.09 points or 1.67% to 2011.42. That is the highest level since January 3.
After the close, some earnings included:
Whirlpool Corp (WHR) Q4 2023 (USD)
- EPS: $3.85 BEAT (Expected: $3.56)
- Revenue: $5.09 billion BEAT (Expected: $4.98 billion)
- Shares of Whirlpool are trading down -4.24% in after-hours trading
Super Micro Computer Inc (SMCI) Q2 2024 (USD)
- Adjusted EPS: $5.59 BEAT (Expected: $4.93)
- Net Sales: $3.66 billion BEAT (Expected: $3.42 billion)
- Gross Margin: 15.5% MISS (Expected: 16.5%)
- Raises FY24 revenue outlook to $14.3 billion to $14.7 billion (Previously $10 billion to $11 billion).
- Q3 Adjusted EPS Outlook: $5.20 to $6.01 BEAT (Expected: $4.65)
- Q3 Net Sales Outlook: $3.7 billion to $4.1 billion BEAT (Expected: $3.07 billion)
- Note: Raised Q1 guidance in early January.
Shares of SMCI are trading up 4.54% in after-hours trading
Cleveland-Cliffs Inc (CLF) Q4 2023 (USD)
- EPS: -$0.31 MISS (Expected: -$0.04)
- Adjusted EBITDA: $279 million BEAT (Expected: $275.9 million)
- Revenue: $5.10 billion MISS (Expected: $5.15 billion)
- Shares of Cleveland-Cliffs are trading-2.44% in after-hours trading