Here Are 4 Hot Things to Know About Stocks Right Now
Wall Street Overview
Steel stocks, such as U.S. Steel Corp. (X) and AK Steel Holding Corp. (AKS) , jumped on reports the the Commerce Department will recommend wide-ranging tariffs on steel and aluminum imports. U.S. Steel rose 14% and AK Steel jumped 14%.
Stocks closed higher on Thursday, Feb. 15, for a fifth straight session. The Dow finished up 306 points, or 1.23%, to 25,200. The S&P 500 gained 1.21% and the Nasdaq rose 1.58%.
In U.S. economic data released Friday, import prices in January rose 1%, while export prices rose 0.8%. Housing starts in January jumped 9.7% to annual rate of 1.33 million, well ahead of estimates that called for an increase of 4.2%.
The University of Michigan's consumer sentiment index in February rose to 99.9, up from last month's 95.7, and the second-highest level in 14 years.
The 10-year Treasury note was yielding 2.859% on Friday, after hitting a fresh four-year high of 2.94% earlier in the week.
Deere & Co. (DE) reported fiscal first-quarter earnings of $1.31 a share, 11 cents ahead of analysts' estimates. Revenue was $6.91 billion while analysts expected $6.42 billion. The heavy equipment maker said it expects 29% growth in equipment sales for 2018, up from an earlier forecast of 22% growth. The stock rose 1.8% on Friday.
Coca-Cola Co. (KO) posted fourth-quarter adjusted earnings of 39 cents a share, topping forecasts by 1 cent. Revenue fell 20% to $7.5 billion but still beat forecasts that called for $7.4 billion. The company said it sees adjusted earnings-per-share growth of 8% to 10% in 2018.
Coca-Cola shares rose 0.64%.
Kraft Heinz Co. (KHC) posted fourth-quarter adjusted profit of 90 cents a share, 5 cents below estimates. Sales of $6.88 billion came in below forecasts of $6.91 billion. Shares fell 2.6%.
Campbell Soup Co. (CPB) reported adjusted earnings of $1 a share, beating Wall Street estimates of 82 cents. Sales in Campbell Soup's fiscal second quarter of $2.18 billion beat forecasts of $2.16 billion. Organic sales in the quarter, however, fell 2%, and U.S. soup sales declined 7%. The stock declined 3.2%.
Shares of Newell Brands Inc. (NWL) rose 1.5% despite the maker of Sharpie pens and Mr. Coffee brewers saying core sales in the fourth quarter tumbled 1.9%.
In what would be one of its biggest overseas deals, Walmart, the world's largest retailer, is looking at buying new and existing shares in Flipkart and due diligence is likely to begin as early as next week, the sources said.