Today, U.S. stock market indexes opened in the green after Federal Reserve Board Chair Janet Yellen reaffirmed interest rates will be increased later this year. The rate hike is expected to be in December with several more next year. Further, the U.S. Dollar Index jumped ahead of President Trump’s announcement on tax reforms.
Shares of Micron Technology Inc. (MU, Financial) gained 8% on the back of the company´s quarterly results. First-quarter EPS came in at $2.02 and revenue was $6.14 billion, beating estimates by 18 cents and $180 million respectively. President and CEO Sanjay Mehrotra is confident about industry fundamentals for next year, which will be driven by diversified end markets and applications.
Gainers
- Cintas Corp. (CTAS)
- Lam Research Corp.”‹ (LRCX)
- Applied Materials Inc. (AMAT, Financial)
- Ulta Beauty Inc. (ULTA, Financial)
- NRG Energy Inc. (NRG, Financial)
- Best Buy Co. Inc. (BBY)
- Equifax Inc. (EFX, Financial)
Losers
- Scana Corp.”‹ (SCG)
- Kimco Realty Corp. (KIM)
- Nike Inc. (NKE, Financial)
- Iron Mountain Inc. (IRM)
- Delphi Automotive PLC (DLPH, Financial)
- Varian Medical Systems Inc. (VAR, Financial)
Global markets
The main European stock markets traded higher. The FTSE 100 gained 0.38%, the IBEX 35 climbed 1.76%, France's CAC 40 increased 0.25% and Germany's DAX was up 0.41%.
In Asia, Hong Kong’s Hang Seng Index gained 0.47% and China’s Shanghai Composite Index rose 0.05%. India’s BSE Sensex declined 1.39% and Japan’s Nikkei 225 fell 0.31%.Â
Disclosure: The author holds no positions in any stocks mentioned.
