DJIA Ekes Out a Last Minute Victory As Stocks Rally

Michael Teague  |

The Nasdaq exchange remained firmly in the green throughout Monday trading, while the benchmark indices struggled but successfully eked out a victory, with the S&P 500 and Dow lurching into positive territory at the last minute, as the days catalysts consisted of a mish-mash of earnings reports, announcements, and other news items.

The Final Tally

●     Standard & Poor’s 500: +0.16 percent to 1,799.84

●     Dow Jones Industrial Average: +0.05 percent to 15,801.79

●     Nasdaq: +0.54 percent to 4,148.17

Our Top Stories

●     In our weekly conversation with Toni Turner, we discuss whether the market can rebound off of its recent low.

●     John Mauldin checks in with a long-reader about the recent Congressional Budget Office report on the Affordable Care Act’s long-term effects on the job market.

●     George Brooks considers the possibility that 2014 will be a year characterized by volatility, as investors may be in for more than one correction.

●     We at Equities.com are incredibly excited about our newest contributor Justin Zhen, co-founder of Thinknum.com, a collaborative investment research platform. Check out his first article that provides an introduction on how to apply this innovative new tool to stocks, using Yum! Brands (YUM) .

●     Shareholders for Maryland’s 1st Mariner Bancorp ($FMAR) could be losing their shirts with today’s announced buyout. Jacob Harper has the scoop.

On the S&P

Yahoo! (YHOO) added about one percent on the day, after the company announced a deal with Yelp (YELP) to boost local search results. Despite a miss on earnings, toy-maker Hasbro (HAS) popped nearly 5 percent on strong sales numbers for girls’ toys.

Social media giant Facebook (FB) was off over 1 percent on heavy volume, while US auto-manufacturers were lower by Monday’s closing bell, with General Motors (GM) and Ford (F) off by 3 and 1 percent respectively.

On the Dow

Despite a late-session rally, the Dow continued to reveal that big oil finds itself in something of a pinch after last week’s earnings reports showed Chevron (CVX) and ExxonMobil (XOM) struggling to keep up with production expectations. Both companies were off by around one percent by the closing bell. Unitedhealth Group (UNH) was off by over 2 percent, while the Walt Disney Co. (DIS) continued its string of up days, adding nearly 2 percent.

On the Nasdaq

Unlike the indices, the Nasdaq exchange spent the greater part of the day in solid positive territory. Electronics manufacturer Plug Power Inc. (PLUG) continued on its whipsaw spiral upwards, adding another nearly 14 percent on heavy trading. Tech stocks turned out to be the main driver for today’s gains, with application software maker AutoNavi Holdings Limited (AMAP) up around 24 percent. Apple (AAPL) was nearly 2 percent higher after activist investor Carl Icahn announced that he was retracting his recently announced threat to substantially increase his position in the company. Zynga (ZNGA) and Micron Technology (MU) also ended the day higher on substantial volume.

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. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
UNH UnitedHealth Group Incorporated (DE) 221.75 4.91 2.26 13,927,214 Trade
CVX Chevron Corporation 119.86 -0.41 -0.34 9,546,462 Trade
YELP Yelp Inc. 36.00 0.35 0.98 821,472 Trade
FB Facebook Inc. 178.28 -0.50 -0.28 11,655,608 Trade
GM General Motors Company 40.30 0.31 0.78 10,678,039 Trade
YUM Yum! Brands Inc. 103.32 1.82 1.79 1,261,587 Trade
F Ford Motor Company 9.55 0.05 0.53 29,843,042 Trade
ZNGA Zynga Inc. 5.44 0.19 3.62 36,298,405 Trade
YHOO Yahoo! Inc. n/a n/a n/a 0 Trade
HAS Hasbro Inc. 88.78 -1.40 -1.55 1,172,896 Trade
MU Micron Technology Inc. 43.40 0.25 0.58 16,193,579 Trade
PLUG Plug Power Inc. 2.57 0.01 0.39 2,323,413 Trade
DEPND DEPND n/a n/a n/a 0
AAPL Apple Inc. 203.86 0.73 0.36 24,195,766 Trade
DIS The Walt Disney Company 132.45 0.70 0.53 11,890,584 Trade
XOM Exxon Mobil Corporation 81.13 -0.30 -0.37 9,493,885 Trade

Comments

Watchlist

Symbol Last Price Change % Change
AAPL

     
AMZN

     
HD

     
JPM

     
IBM

     
BA

     
WMT

     
DIS

     
XOM

     

World Economic Forum at Davos 2019 - Ben Yablon Executive VP Salt Lending

Matt Bird sits down with Ben Yablon - Executive VP of Salt Lending - at the World Economic Forum in Davos January 2019