Market Perspective for February 5, 2019

The Nasdaq rose 1.15 percent on Monday. Technology stocks pushed the broader market higher, with Apple (AAPL) and Microsoft (MSFT) both gaining more than 2 percent. SPDR Technology (XLK) advanced 1.60 percent.

SPDR Industrials (XLI) gained 1.29 percent with strength from Boeing (BA) and defense stocks. iShares US Aerospace & Defense (ITA) climbed 2.08 percent.

Google (GOOG) beat analyst earnings estimates, coming in at $12.77 versus an expected $10.86. The company also beat revenue forecasts. However, shares fell in after-hours trading. Rising costs held operating income to $8.2 billion, below an expected $8.6 billion. Capital investments doubled as well.

Gilead Sciences (GILD) slipped 3 percent after the company said profit was below analyst estimates. Emerson Electric (EME) beat earnings forecasts, though its shares also fell.

Reports today include Disney (DIS), Estee Lauder (EL), Anadarko Petroleum (APC), Becton Dickinson (BDX) Microchip Technology (MCHP), Electronic Arts (EA) and Lumentum (LITE). Lumentum is an Apple supplier and delivers early signals on Apple’s business. This past November Lumentum caused a drop in Apple shares when it warned on profits. Apple lowered its earnings guidance in early January.

On Wednesday, Eli Lilly (LLY), NXP Semiconductors (NXPI), Humana (HUM), General Motors (GM), Chipotle Mexican Grill (CMG), Metlife (MET) and Twenty-First Century Fox (FOXA) report.

Fiserv (FISV), Intercontinental Exchange (ICE), Expedia (EXPE) and Cardinal Health (CAH) will issue reports on Thursday.

The U.S. Dollar Index rose on Monday. Crude oil fell 1 percent, while natural gas slipped 2.5 percent. SPDR Energy (XLE) returned 0.23 percent.

iShares MSCI Emerging Markets (EEM) saw a small gain of 0.16 percent to start the week.

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