Amazon Was the Biggest Winner on the Entrepreneur Index™ Today

The online retail company’s stock jumped more than 6 percent.

3 min read

Opinions expressed by Entrepreneur contributors are their own.

The mid-term elections played out as expected, with the Democrats winning the House and the Republicans retaining the Senate. What that means for the second half of President Trump’s first term is anyone’s guess, but that’s okay with the stock market.

The Dow and S&P 500 indexes were up 2.13 percent and 2.12 percent, respectively, with strength across virtually all sectors. The Entrepreneur Index™ was up 3.02 percent, with only five of 60 stocks in the red today.

Technology stocks led the rise with the Nasdaq Composite index up 2.64 percent on the day. Netflix (5.36 percent), Adobe Systems Inc. (5.35 percent) and (5.85 percent) were all up sharply. Amazon jumped 6.86 percent, the biggest gain on the Entrepreneur Index™ today. The tech giant’s stock was down nearly 20 percent in October but it is once again leading the market higher. Amazon is up 49 percent on the year so far.

Healthcare stocks rallied today as the risk of a full repeal of Obamacare is likely more remote with a split Congress. Universal Health Services, which manages acute care facilities, was up 2.82 percent. Alexion Pharmaceuticals also gained 3.21 percent. The biotech firm, focused on developing for drugs to treat rare diseases, has been volatile this year, but is up more than 10 percent so far this month.

Medical device maker Boston Scientific Corp. gained 2.99 percent. The company recently posted good financials for the third quarter but tightened earnings forecasts, citing the impact of a rising U.S. dollar on foreign earnings. The stock is up 53 percent on the year.

Oil and gas producer Hess Corp. is apparently attracting value investors. The stock fell nearly 25 percent in October along with the price of oil. It was up 3.78 percent today while the price of crude was down another 1 percent. Despite the sanctions against Iran taking effect this week, U.S. oil output and inventories continue to rise. With the price of crude oil down more than 20 percent since early October, oil is technically in a bear market.

Wynn Resorts posted a good 3.92 percent gain today. The casino operator’s stock has been swinging lately because of worries about the Chinese economy and global growth outlook. Wynn announced today that Phil Satre, former CEO of Harrah’s Entertainment, would succeed retiring chairman of the board D. Boone Wayson. The company will also report earnings after the market closes today. The stock is down 32 percent this year.

Rollins Inc. was up 3.73 percent on the day. The pest-control heavyweight posted 8 percent growth in sales in the third quarter, with about 3 percent coming from new acquisitions. The stock has gained 32 percent this year.

Clothing makers were not in style today. Of the five stocks on the Entrepreneur Index™ that declined today, three were clothing manufacturers. Under Armour Inc. (-1.8 percent) had the biggest drop, followed by Gap Inc. (-1.65 percent) and Ralph Lauren Corp. (-0.31 percent).

The Entrepreneur Index™ collects the top 60 publicly traded companies founded 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 on

Source link

more recommended stories

  • The UN Is Moving Toward Ending Decades of International Cannabis Prohibition

    America and the entire world is.

  • Sunday Scaries Takes a Novel Approach to CBD

    The startup’s story-based marketing crafts the.

  • Master Business Finance With This Expert-Led Class

    Entrepreneur and business school professor Chris.

  • How I Built $500 in Credit to $500,000

    Start small, pay on time, be.

  • With the Right Mindset, Your Setbacks Can Set You Up for Success

    Merril Hoge, former NFL running back.

  • 5 Other Uses for Hemp You May Not Know About

    Hemp-derived CBD gets all the love.

  • Could These Nootropics Help You Achieve Peak Mental Performance?

    March 22, 2019 2 min read.

  • The Entrepreneur Index™ Is Down on Friday (and So Is Tesla’s Target Price)

    March 22, 2019 2 min read.

  • Best Cannabis Software for Seed-to-Sale Tracking

    The best cannabis software for following.

  • ‘I Would Probably Be Dead or in Jail.’ How Dave Fox Went From Struggling With Addiction to Living Life on His Terms.

    You can live like a victim.

  • Is a Recession Around the Corner? The Bond Market Thinks So, but Stock Market Says No.

    Stocks were strong across all sectors.

  • Getting More Women to Tech Conferences Starts with the Businesses That Send Them

    A study of keynote and featured.

  • 50 Ideas for a Lucrative Side Hustle

    You know how to do something.

  • Tech Shares Buoy the Entrepreneur Index™ Again Despite Signs of Slowing Economic Growth

    Plus, tech stock analysts think Netflix.

  • Israeli Study Finds Marijuana Has Promise for Treating Autism Symptoms

    Early results find cannabis helps many.

  • 10 Grants You Need to Know About for Your Woman-Owned Business or Organization

    March 19, 2019 6 min read.

  • Adult-Use Marijuana Is a ‘No-Brainer’ for Two Florida Lawmakers but Just a ‘No’ for Most

    Florida, home to strip mall “pill.

  • Go from Day Job to Dream Job with These Reads

    From Betches to Big Data, the.

  • Register for Entrepreneur Insider’s Free Fireside Chat With Ellen Latham, Founder of Orangetheory Fitness Franchise

    Get inspired as the fitness guru.

  • Learn to Drive More Traffic and Sales With This $29 Social Media Bootcamp

    Learn the basics of Google AdWords.

  • Learn to Master JavaScript with This $49 E-Degree Bundle

    March 16, 2019 2 min read.

  • Finding Success at the Intersection of Sports and Culture

    Marcus Damas, founder of Fueled by.

  • This Cancer Researcher Is Devoted to Her Medical Dispensary Patients

    While Chanda Macias researched new treatments.

  • Vegan Celebrity Chef Chloe Coscarelli Says Entrepreneurs Should Push for Change Even When No One Believes in Them

    The plant-based restaurateur behind By Chloe.

  • The New Tesla Model Y Gets Chilly Reception and Drives Company Shares Down

    This is despite Elon Musk’s prediction.

  • Anonymous Online Detractors Shattering Your Confidence?

    Your messaging is only part of.

  • Stock Market Manages to Stay Steady Despite Rise in Unemployment Claims and Fall in Home Sales

    Retail stocks on the Entrepreneur Index™.

  • Presidential Candidates Back Marijuana Justice Act, But What Would It Do?

    The bill would end the War.

  • 4 Ways to Protect Your Company’s Online Reputation

    March 13, 2019 4 min read.

  • Will Pressure From Investors Lead Victoria’s Secret and Bath & Body Works to Split Into 2 Stocks?

    After Gap Inc. recently announced it.

  • The FBI Busted Rich Parents for Allegedly Bribing Their Kids Into Elite Schools. Here’s the Not-so-Secret Way the Super Rich Game College Admissions.

    Usually, the ultra-wealthy manipulate the process.

  • Do Recent Price Cuts by Tesla Suggest That Demand Is Softening for Its Vehicles?

    Shares in Boeing fell again today.