Entrepreneur Index™ Rises as Fears of Trade War DissipateThe technology sector leads the rebound, but Under Armour also has a strong day on the market.
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Investors' fears of a deepening trade war with China were soothed somewhat by optimistic tweets from President Trump today.
Technology stocks led a rebound in the market after one of the worst days of the year yesterday when China imposed new tariffs on American-made goods. The Dow and S&P 500 indexes were up 0.82 percent and 0.8 percent respectively while strong tech stocks helped the Nasdaq Composite post a 1.14 percent gain. TheEntrepreneur Index™closed the day up 0.72 percent.
Technology stocks suffered the worst of the sell-off in markets over the previous two days but bounced back nicely today. Software makersalesforce.com(3.21 percent), and the two chip-makersAnalog Devices(2.42 percent) andNVIDIACorp. (2.25 percent) led the pack.Amazon(0.96 percent) andNetflix(0.1 percent) both had gains, butAlphabet Inc.andFacebookfell 0.94 percent and 0.42 percent, respectively.
Apparel makers were also pummeled yesterday on fears of an extended trade war with China.Under Armour Inc., however, was up 3.25 percent today, the biggest gain on the Entrepreneur Index™.Ralph Lauren Corp., on the other hand, had another difficult day, dropping 3.66 percent after reporting financial results this morning. The branded clothing-maker beat earnings and revenue estimates but reported weak sales in North America, its largest market. The stock was down 4.8 percent yesterday.
Tyson Foodshad one of the biggest gains on the index today, rising 2.51 percent after getting an upgrade to outperform from a Credit Suisse analyst. The analyst suggested that the outbreak of African swine fever could result in significantly higher pork, chicken and beef prices. Tyson shares are up 52.8 percent so far this year.
Other good gains on the index today includedTesla(2.33 percent),Boston Scientific Corp.(2.2 percent) and asset managerFranklin Resources(2.14 percent).Chipotle Mexican Grillwas also up 2.31 percent today. The stock is up a whopping 62.9 percent this year.
Related:Chipotle Isn't Franchising … Yet. Here's What You Can Do in the Meantime.
Only eleven stocks of sixty on the Entrepreneur Index™ fell today. Other than Ralph Lauren, most of the losses were small. REITExtra Space Storage, one of only three stocks on the index that posted a gain yesterday, was down 0.92 percent. Discount retailerDollar Tree Inc.also fell 0.59 percent.
TheEntrepreneur Index™收集前60上市公司但书ded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time onEntrepreneur.com.
