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DJIA, S&P, NASDAQ Rally on Better-than-Expected Retail Sales Data

By  +Follow January 14, 2014 11:05AM
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Stocks ended significantly higher by Tuesday’s closing bell, with indices rallying to gains big enough to recuperate most of the losses incurred during the previous day’s sell-off.

The Standard & Poor’s 500 index jumped 1.08 percent to 1,838.88 points, while the Dow Industrials were up 0.71 percent for a finish at 16,373.86. The NASDAQ rose 1.69 percent to 4,183.02.

Investors on Wall Street took heart from the Commerce Department’s early-morning release of retail sales data for the December holiday season that handily beat expectations on a year-over-year spending increase of 4.1 percent. Retail spending for the full year of 2013 increased 4.2 percent from 2012.

On the S&P 500, major tech companies made some of the highest-volume gains of the day, with Facebook (FB) , Intel (INTC) , and Microsoft (MSFT) all closing substantially higher. Bank of America (BAC) rose on the heaviest of the day’s trading however, up over 2 percent ahead of its heavily anticipated earnings report ahead of Wednesday’s opening bell.

The Dow Jones Industrial Average lagged behind its colleagues, but also enjoyed a strong day as Intel (INTC) jumped nearly 4 percent after an analyst at JPMorgan (JPM) upgraded the company’s stock to “overweight” on expectations of a “relatively stable” 2014 PC market.

On the NASDAQ, Google (GOOG) added over 2 percent after the previous day’s late announcement of the tech giant’s acquisition of high-tech thermostat/smoke alarm designer Nest in a move that was widely interpreted as an astute move on the company’s part to get a head start on the forthcoming “internet of things”.

Despite the day’s gains, Intercept Pharmaceuticals (ICPT) unloaded for the second day in a row, shedding about 30 percent of its share price by the end of trading after the stock more than sextupled the previous week. Meanwhile, Tesla (TSLA) bulls seemed completely oblivious to the National Highway Traffic and Safety Administration’s announcement that the company would be forced to recall a significant number of its electric cars due to renewed fears of the possibility of fires, this time originating in the Model S’s battery-charging system.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for bac
PennyStocker
23 Nov 14 05:53:43
$ELED is breaking out of bullish flag pattern today. Could be a big couple days here. $BAC $ARCP $AAPL
Financial Iceberg
23 Nov 14 04:58:24
Bank of America $BAC -Technicals- Daily Fibonacci Levels http://t.co/ilPCuxnuS5
bored2tears
23 Nov 14 04:04:04
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PennyStocker
23 Nov 14 03:58:39
Wowser $ELED in breakout mode. Going long on the 8k news. $BAC $ARCP $AAPL
4-traders.com
23 Nov 14 02:05:02
Bank of America : Mortgage Rates Roundup for November 20 http://t.co/RShfPrjFXb $BAC
Wall Street
23 Nov 14 01:47:47
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PennyStocker
23 Nov 14 01:43:26
$ELED is breaking out of bullish flag pattern today. Could be a big couple days here. $BAC $ARCP $AAPL
PennyStocker
23 Nov 14 00:17:03
Wowser $ELED in breakout mode. Going long on the 8k news. $BAC $ARCP $AAPL
Dave
23 Nov 14 00:12:02
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PennyStocker
22 Nov 14 22:24:51
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lookn4wins
22 Nov 14 21:57:28
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(Plan Maestro)
22 Nov 14 21:36:53
Bank of America Granted Penalty Relief in SEC Mortgage Case $BAC http://t.co/f2HvS5OvZZ
Mark Trader
22 Nov 14 21:20:13
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Dave
22 Nov 14 19:20:09
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Dan Wilchins
22 Nov 14 16:47:21
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Al Sabogal
22 Nov 14 15:24:30
@humbletrader65 maybe next time I trade $BAC !!!
FinSentS SP500
22 Nov 14 15:15:37
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Wall Street
22 Nov 14 14:50:41
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Peter Rudegeair
22 Nov 14 13:43:33
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GO CUSE1
22 Nov 14 12:53:23
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Wall Street
22 Nov 14 12:37:53
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Stockaholics
22 Nov 14 11:57:45
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PennyStocker
22 Nov 14 11:43:55
$ELED is breaking out of bullish flag pattern today. Could be a big couple days here. $BAC $ARCP $AAPL
4-traders.com
22 Nov 14 11:05:09
Bank of America : hires U.S. officials for financial crime team http://t.co/HITe7bVttV $BAC
DrugDates
22 Nov 14 09:55:29
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paul bratby
22 Nov 14 09:40:15
I Time Stopped this trade on $BAC Sept14, taking some reasonable profits! Not every #trade reaches its target http://t.co/WYGpCs4kUJ
Dave
22 Nov 14 09:13:37
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CAP WEST EQUITIES
22 Nov 14 08:48:50
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Muathe
22 Nov 14 08:36:05
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Half Full Publishing
22 Nov 14 07:30:10
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PennyStocker
22 Nov 14 07:24:16
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FinSentS SP500
22 Nov 14 07:16:19
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E Pon E
22 Nov 14 06:28:30
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PennyStocker
22 Nov 14 06:22:31
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22 Nov 14 03:06:05
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Lael Nation
22 Nov 14 03:05:32
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takethisbet
22 Nov 14 01:51:31
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Stock Wire
22 Nov 14 01:33:51
Bank of America granted penalty relief after SEC compromise $BAC http://t.co/A7bjTTbdci
Rob Williams
22 Nov 14 00:20:23
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22 Nov 14 00:07:49
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FinSentS SP500
21 Nov 14 23:12:23
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Stockaholics
21 Nov 14 22:39:58
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Saran Linton
21 Nov 14 22:16:14
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Oswald Newton
21 Nov 14 21:18:10
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21 Nov 14 20:50:13
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Cira Zeigler
21 Nov 14 20:36:10
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Ali Hemraj
21 Nov 14 20:31:25
RT @lindseycbell: Annnnnd $BAC announces another adjustment to earnings.
Hedge AccordingLy
21 Nov 14 20:23:45
Zacks Analyst: JPMorgan Chase, Morgan Stanley, Goldman Sachs and Bank of America | $GS $BAC $MS $JPM $XLF | http://t.co/CoT2o22W8l
Necole Diaz
21 Nov 14 20:12:50
Looking for the next $MAS $BAC $HIG $ABX Worth a look http://t.co/DL5S0ToYuK
				
				
By  +Follow January 14, 2014 11:05AM
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