We're Back: S&P 500 Reaches All-Time High, Walmart, Home Depot Earnings, Oracle TikTok Play, Buffett Selling Stocks in 2020
After standing on the threshold for almost a week, the S&P 500 Index (SNPINDEX: ^GSPC) is back at an all-time high. The index closed at 3389.78 on Aug. 18, up 7.8 points and surpassing the prior high, reached on Feb. 19. This marks the quickest bear-market recovery in history, with the index regaining all of its losses in 126 trading days.
Leading the index today was Amazon.com Inc (NASDAQ: AMZN), gaining 4% after reports came out late yesterday that it was looking to acquire a minority stake in Rackspace, the cloud services company known for high-quality customer service that often partners with Amazon's AWS offering. Amazon also just announced plans to invest $1.4 billion in hiring and new office space. In other tech news, Oracle (NYSE: ORCL) is said to be entering the bidding for TikTok's North American and some other assets.
On the earnings front, retail giants Walmart (NYSE: WMT) and Home Depot (NYSE: HD) released their most recent quarterly results, reporting huge same-store sales growth. In other news, a closer look at Berkshire Hathaway (NYSE: BRK.A)(NYSE: BRK.B) filings shows something surprising: Berkshire sold off stocks in 32 different companies in the first half of the year.
Source Fool.com
