Stock Market Today: S&P 500 closes at record as unprecedented 5,000 level in focus
Investing.com -- The S&P 500 rallied Wednesday closing at a record high and just shy of 5,000 level as bullish bets on stocks continued, with consumer stocks leading the charge following an earnings-led rally in Chipotle and Ford.
) climbed 6% boosting consumer stocks after the automaker delivered annual guidance and fourth-quarter that topped analyst estimates. Ford guided $10-12B in 2024 earnings before interest and taxes, or EBIT, topping analyst estimates of $9.6B, though some on Wall Street flagged waning EV demand as a worry. Ford's guidance assumes a reversal of losses at Model E to $5 to 5.5B for 2024, RBC said in a Wednesday note, from $6.3B annualized in 2023, despite "2023 only experiencing worsening EV losses each quarter.") posted its first-ever annual operating profit on a net basis thanks in part to solid holiday demand for its ride-sharing and food delivery services. Shares closed marginally higher on the day.), up 7%, also reported quarterly results that beat on both the top and bottom lines, driven by an 8.1% rise in same-store sales as foot traffic rose 7.4% in the quarter.) fell 1% even as the regional bank tried to cool worries about its financial strength, saying it had a strong enough liquidity base to more than cover bank deposits that were not protected by U.S. government-backed insurance. The update comes after JPMorgan and BofA Securities downgraded the stock.Energy stocks were flat as oil prices pared some gains following a much bigger than expected increase in U.S. weekly crude stockpiles. In the week ended Feb. 2, weeklyinventories rose by 5.5 million barrels, well above the prior week's 1.2 million build and estimates for 1.7 million barrels.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses will also be removed; self-promotional material or business-related solicitations or PR , and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.Analysts said SP500 at 5000 by year end. At this rate, it will be 7500 by year end. Or 2500 if recession finally hits.where do you live Larry that Chipotle costs double? More like 25% increase or less where I live but I have never eaten at Chipotle but have friends and one in-law that eat there regularly.Wow I invested $5,500 and I got $18,700 in return, thanks 🙏🙏 you so much sir you've change my life. you made me an independent woman and my family, once again thank you very much for the good things you've done into my life. I promise you i will invite more and more and more of my friend to follow you up for Thier guidelines on your platform..... Kindly message him on wtsap31612574318) and testify his good work...... 10101000011001100110100110100101010101010101010101010101010100110101010101010202001101010101010101010101010101010101010100110101010101010101010101010100110101010101010101010100101010110011001101010101010100101010101100100101010101011010100110100101Chipotle costs double to eat there from 2 years ago. No wonder there making so much. Time to boycott these crooks.still cheaper than chick Fila and you get an actual meal. they could probably go 50% higher before I start trying to eat somewhere elseChipotle would have to drive my cheaper, local, Mexican-run family restaurants out of business before I would settle for Chipotle.i can cook all of that stuff at home better. The meat at Chipotle is questionable in terms of how grissled and scrappy it's gonna be that day. Cooking at home as much as possible also saves you a lot of $ that you can then invest!Would be extremely interested to hear reporting on the P/E of all of these stocks now versus a few years ago, so you can report to us whether companies are actually growing and making more profits or if their valuations is just getting massively inflated compared to their actual growth. {username} Just Now Share Follow this postUnfollow this post Save Saved. See Saved Items . 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