The DJIA dipped slightly while the Nasdaq and S&P rose, marking a rebound from the prior week’s tech and bio sell-off. The rise is of special importance to the S&P, which briefly touched 1,870 before paring back slightly. As of the conclusion of Thursday’s action, the S&P is up 45 points on the week, notching its best week since July 2013.
International Business Machines ($IBM) and Unitedhealth Group (UNH) pulled the Dow into the red, with both companies shedding over 3 percent on heavy volume, countering DJIA compatriot General Electric’s (GE) 1.68 percent uptick.
However, SanDisk Corp.’s (SNDK) led a broad recovery for tech with exceptional earnings, gaining 9.41 percent. Competitor Micron Technologies (MU) followed suit, gaining 6.36 percent. Netflix Inc. (NFLX) was also well in the black on the day, rising 4.32 percent
Results for April 17, 2014
- Standard & Poor’s 500: +0.14 percent to 1,864.85 points
- Dow Jones Industrial Average: -0.10 percent to 16,409 points
- NASDAQ Exchange: +0.24 percent to 4,096 points
Our Top Stories
- Industry analyst Jeff Kagan takes a bullish look at Google (GOOG) , and how he feels they will recover from a disappointing earnings report.
- Grant Williams delves into the arguments made in Michael Lewis’ new book Flash Boys, which takes a highly critical look at high-frequency trading.
- George Brooks reminds investors to remain skeptical about what we can discern from the recent spate of Q1 earnings reports.
- Senior Editor Joel Anderson interviews healthcare crowdfunding site Poliwogg’s CEO Greg Simon about his company, investing in biotech, and how the Affordable Care Act is changing the game.
- John Mauldin takes an in-depth look into the history of central banks’ role in emerging markets.
- UnitedHealth’s earnings were a big disappointment, taking many fellow big-name healthcare companies with them.
- RadioShack (RSH) plummeted as the company struggles to settle on a turnaround plan
- Halliburton (HAL) Baker Hughes (BHI) and Schlumberger Limited (SLB) all experienced exceptionally heavy volume on the latter two’s earnings reports.