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US stock market rally continues on strong earnings reports

All three US benchmarks finished higher on Wednesday with both the Dow Jones and S&P 500 up 0.8% as earnings season kicked up another gear.

Similarly, the Nasdaq jumped 0.9% despite the US reporting a 75% increase in COVID-19 cases and a 25% increase in deaths.

The successful vaccine rollout means policymakers have hope of avoiding a second slowdown, a benefit not as prevalent in less developed countries.

Chipotle & Coca-Cola report

Chipotle Mexican Grill (NYSE: CMG) jumped over 11% in a positive sign for the likes of Collins Foods Ltd (ASX: CKF) with the company reporting a 40% increase in revenue in the fourth quarter.

Profit was up close to twentyfold, hitting US$188 million on the back of 56 new restaurant openings and an 11% increase in digital sales that now make up 49% of the total.

Elsewhere, shares in Coca-Cola (NYSE: KO) also rallied, with the defensiveness on show as the company reported a 42% increase in revenue to US$10.1 billion.

Earnings also jumped by 50% as it made further market share gains in the non-alcoholic markets.

US stock market movers

Here’s how other popular US stocks traded on Wednesday.

Back home on the ASX, the S&P/ASX 200 (ASX: XJO) is expected to follow US markets higher at the open on Thursday. For all the latest, check out Rask Media’s ASX 200 morning report.

The Golden Rules of Investing

We might be experts in retirement, but with combined financial advice experience of 35+ years, we’ve nearly seen it all. 

In mid-2023, our senior team at Wattle Partners Financial Planning put the finishing touches on a brand-new report “The Golden Rules of Investing“.

In this free report, we outline the key principles that determine all of the portfolio construction and investment decisions of Wattle Partners. Collated over decades, this paper should be seen as a work-in-progress, constantly under review in light of the ever-evolving nature of markets. 

You’ll find the free report on my Author page. Simply click the button below to view the Golden Rules.

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At the time of publishing, the author of this article does not have a financial or commercial interest in any of the companies mentioned.

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Wattle Partners is a financial advice firm, servicing clients around Australia, specialising in retirement planning (pre and post retirement). 

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