Stocks had a strong week, as the S&P 500 rose 0.81% to 2,316, the Dow Jones Industrial Average increased 1% to 20,269, and the Nasdaq Composite was higher by 1.19% to 5,734. These are all-time highs across the board. Energy (XLE) was the only sector to decline, while Industrials (XLI) led the way with a 1.76% gain.
Church & Dwight (CHD), Dunkin Brands (DNKN), Gilead Sciences (GILD), NVIDIA (NVDA), and Panera Bread (PNRA) are among the companies to beat earnings estimates last week. CHD, the maker of Arm & Hammer products, beat on the top and bottom, while guiding future earnings within analyst's expectations. The company also raised its dividend 7% and acquired three brands during the quarter. Graphic processing unit (GPU) maker, NVDA, beat on revenue and earnings as well. NVDA's GPUs are used for deep learning, and are helping move self-driving cars, cancer detection, and weather prediction forward.
Overall, according to Zacks, 319 S&P 500 members reported earnings for Q4, combining for 76.3% of the index's total market cap. Total earnings are up 5.8% on revenue that is 4.5% higher. Of these companies, 69.6% beat EPS estimates, while 54.5% came ahead of top-line estimates. This accelerating growth compares to +2.8% EPS growth and +2.0% revenue growth in Q3.
In the technology sector, Snap, Inc., the maker of the Snapchat app, filed its S-1 form to provide public information about the company ahead of its IPO. This is the most anticipated IPO in the tech space since Alibaba (BABA) in late 2014. Snap reported a loss of about $500 million in 2016.
Next week, investors will focus on inflation, retail sales, and housing data.