It’s a mixed morning for US equities as Dow futures trade slightly lower, the S&P 500 is up 0.5%, and the Nasdaq looks like it will open up nearly 1%. Jobless claims were just released and initial claims came in about 15K lower than expected at 227K while continuing claims were modestly higher. European stocks are also higher this morning as rates reverse some of the gains of recent days. There’s been a ton of earnings news since the close yesterday, and we go through the most high-profile ones in today’s report.Yesterday, the S&P 500 opened modestly lower but then drifted lower throughout most of the trading day before a modest rally into the close which kept the damage contained to a decline of less than 1%. The weakness throughout the trading day was counter to the trend we have seen in recent weeks where the S&P 500 tended to trade higher throughout the trading day. As recently as last week, the S&P 500, measured by SPY, had traded higher from the open to close on 17 of the prior 25 trading days. The fact that the market has been rallying throughout the trading day signals healthy underlying demand.While last week’s reading of 17 is not a historical extreme, it was tied for the highest frequency of days that SPY traded higher from the open to close in a 25-trading day period this year. In 2023, there were multiple periods when the 25-day rolling toll reached as high as 19 or 20. The best this reading has been able to get in 2024, though, has been 17.Regarding individual stocks, T-Mobile (TMUS) reported after the close last night, and if you’re looking for an extreme example of stocks consistently rallying from the open to close, we can’t think of a better one. Heading into last night’s earnings report, shares of TMUS traded higher from the open to close on 24 of the last 25 trading days. Talk about a stock that investors can’t enough of!Looking back over the stock’s history, the current rate of days where TMUS traded higher from the open to close over the last 25 trading days is easily the highest ever. Before the last five weeks, it never got above 21.We can’t think of another example when a stock traded higher from the open to close with such consistency, and if we look back at the history of Apple (AAPL) and Nvidia (NVDA), the two largest and most successful companies in the US market, neither one ever experienced a run where the stock traded higher from the open to close on more than 21 out of 25 trading days.More By This Author:S&P Equal Weight Vs. Cap WeightPhilip Morris International Pops; Yield DropsWeren’t Rates Supposed To Fall?