Rick Winters, vice president at Adviser Investments, has the market analysis for Wednesday, August 8. Despite only minor movement on the major U.S. stockA financial instrument giving the holder a proportion of the ownership and earnings of a company. indexes, the NASDAQ’s fractional gains propelled it to the index’s longest winning streak since March. In terms of earnings reports, we’ve now seen 80% of S&P 500-listed companies that have reported beat estimates, reflecting earnings and sales growth rates of 25% and 10%, respectively. Reporting today, CVS gained over 4% after topping expectations and raising its 2018 adjusted earnings outlook to $6.98 to $7.08 a share versus the previous range of $6.87 to $7.08. Meanwhile, Tesla’s stock fell 3% on reports of a potential Securities and Exchange Commission probe into Elon Musk’s recent Twitter post.
