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) 160.12 0.80 0.50 4,007,213
CVX Chevron Corporation 115.81 0.64 0.56 5,771,551
YELP Yelp Inc. Class A 36.09 -0.16 -0.44 1,025,670
FB Facebook Inc. 119.68 0.77 0.65 17,464,736
AAPL Apple Inc. 113.95 1.83 1.63 34,402,627
DIS Walt Disney Company (The) 104.86 1.48 1.43 12,173,909
GM General Motors Company 37.66 1.24 3.40 26,434,231
YUM Yum! Brands Inc. 64.49 0.13 0.20 2,395,020
F Ford Motor Company 13.17 0.14 1.07 45,256,112
XOM Exxon Mobil Corporation 89.00 0.68 0.77 8,021,683
ZNGA Zynga Inc. 2.93 -0.08 -2.66 14,950,681
YHOO Yahoo! Inc. 41.76 0.35 0.85 6,836,112
HAS Hasbro Inc. 86.01 -0.72 -0.83 817,843
MU Micron Technology Inc. 20.50 -0.16 -0.77 23,977,968
PLUG Plug Power Inc. 1.43 -0.10 -6.54 4,702,993
DEPND DEPND n/a n/a n/a 0

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