NEW YORK, NY / ACCESSWIRE / July 20, 2017 / U.S. markets reached new record highs Wednesday as better-than-expected earnings from Morgan Stanley helped to strengthen investor optimism for the current earnings season. The Dow Jones Industrial Average gained 0.31 percent to close at a record 21,640.75, while the S&P 500 Index increased 0.54 percent to close at a new all-time high of 2,473.83. The S&P 500 Information Technology Sector closed at 992.29, topping the previous dotcom bubble record of 988.49 set on March 27, 2000. The NASDAQ Composite Index rose 0.64 percent to close at 6,385.04, also a new record high.

"Corporate earnings have been fantastic this quarter, which is shaping up to be one of the best we've had in a long time," said John Bailer, Senior Portfolio Manager at the Boston Company.

RDI Initiates Coverage on:

International Business Machines
https://ub.rdinvesting.com/news/?ticker=IBM

QUALCOMM Incorporated
https://ub.rdinvesting.com/news/?ticker=QCOM

International Business Machines' stock moved 4.20% lower Wednesday, to close the day at $147.53. The stock recorded a trading volume of 14,293,610 shares, which was above its three months average volume of 4,375,350 shares. In the last year, International Business Machines shares have traded in a range of 146.71 - 182.79. The stock is currently trading 19.29% below its 52 week high. The company's shares are currently trading below their 200-day moving average. Moreover, the stock's 50-day moving average of $153.57 is below its 200-day moving average of $165.30. Shares of International Business Machines are trading at a Price to Earnings ratio of 12.13. Shares of International Business Machines have fallen approximately 11.12 percent year-to-date.

Access RDI's International Business Machines Research Report at:
https://ub.rdinvesting.com/news/?ticker=IBM

On Wednesday, shares in QUALCOMM Incorporated recorded a trading volume of 8,783,691 shares, which was below the three months average volume of 10,061,700 shares. The stock ended the day 0.87% higher at 56.78. The stock is currently trading 20.72% below its 52 week high with a 52 week trading range of 51.05 - 71.62.The company's shares are currently trading below their 200-day moving average. Moreover, the stock's 50-day moving average of $56.65 is below its 200-day moving average of $56.84. Shares of the company are trading at a Price to Earnings ratio of 18.92. Shares of QUALCOMM Incorporated have fallen approximately 12.91 percent year-to-date.

Access RDI's QUALCOMM Incorporated Research Report at:
https://ub.rdinvesting.com/news/?ticker=QCOM

Our Actionable Research on International Business Machines (NYSE: IBM) and QUALCOMM Incorporated (NASDAQ: QCOM) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com