Monster, Amazon and Apple Lead Stock Surge Into Close on Wednesday

NASDAQ  posted its 31st record close for 2020, led by Monster Beverage Co., Amazon, and Apple.

Amazon continues to climb as the lockdowns of COVID-19 have driven increased delivery sales in Q2.  Apple turned in stronger than expected earnings and announced a 4-for-1 split that took investors by surprise.

Monster had a good Q2 as shares rose after the bell Tuesday and the beverage company topped Wall Street estimates. The company said it has experienced little supply chain interruption.

Monster (Nasdaq: MNST) reported second-quarter net income of $311.4 million, or 59 cents a share, compared with $292.5 million, or 53 cents a share, in the year-ago period.

Pepsi said Wednesday it made a deal to buy another energy player, the privately held Rockstar Energy Beverages for $3.85 billion. The deal is intended to give the beverage and snack company a better position against competitor Coca-Cola in the energy beverage space.

The Dow closed up 373-plus points powered by Disney and Boeing, but Wal-Mart was the loser on the NYSE.

The S and P was led by industrial and financial sectors, and is 2 percent away from an all-time high.

Analysts say the NASDAQ advance could be based on a general sense that the country is going  in the right direction with vaccine development. There is also a sentiment that the public is willing to accept some risk to open businesses again.

 

 

 

 

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