Home News Wayfair, Travelers, PPG Industries and more

Wayfair, Travelers, PPG Industries and more

by SuperiorInvest

Key takeaways

  • The S&P 500 traded above its all-time closing high at midday on Friday, January 19, 2024, as US stocks advanced on strong earnings reports.
  • Shares of Travelers Companies rose after the insurance provider reported its fourth-quarter earnings more than doubled.
  • PPG issued weaker-than-expected guidance and shares of the paint and coatings maker fell.

US stocks rose in midday trading, with the S&P 500 trading above its all-time closing high, after several strong earnings reports. The Dow and Nasdaq also moved into positive territory.

Shares of Travelers Companies (TRV) hit a record high after the insurance provider reported its profits more than doubled due to an increase in premiums and investment income, and lower catastrophe payouts.

Shares of Texas Instruments (TXN) also rose as UBS upgraded the stock and raised its price target, saying the chipmaker has advantages over its rivals.

State Street (STT) shares advanced as the financial firm posted better-than-expected results thanks to strong inflows.

Shares of PPG Industries (PPG) fell after the paint and coatings maker gave lower-than-analyst estimates.

Shares of Walgreens Boots Alliance (WBA) fell for the eighth day in a row as director Nancy Schlichting sold more than $350,000 worth of shares in the pharmacy chain.

Walmart (WMT) shares fell after the retail giant raised salaries for its store managers.

Oil futures fell and gold prices rose. The 10-year Treasury yield rose. The US dollar rose against the pound and the yen, but fell against the euro. Most major cryptocurrencies traded lower.

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