Midday Report: Sysco Tops Earnings Estimates; U.S. Stocks at Records

Stocks clinch new intraday records as crude oil enjoys another session in rally mode.

Author:: Keris Alison Lahiff
Publish date:: Aug 15, 2016 12:28 PM EDT

Stocks clinched new intraday records as crude oil enjoyed another session in rally mode. The Dow Jones Industrial Average,S&P 500 and Nasdaq each topped their previous highs by the middle of the day. Builder confidence improved in August, a sign that construction could catch up with demand in coming months. The National Association of Home Builders said new construction and new home sales are on the rise in most areas of the U.S. Sysco (SYY) - Get Report rose after topping earnings estimates and boosting revenue by 10% in its recent quarter. Tight control of costs helped profit come in higher than expected. American Eagle Outfitters (AEO) - Get Report was upgraded to BUY from HOLD with a $22 price target at Deutsche Bank. Analysts said the retailer has strong sales momentum and is facing easier comparables.