DJIA, S&P, and Nasdaq All Gain on Tech Resurgence

Jacob Harper  |

Markets were up across the board with all the major indices reporting gains on a slew of better-than-expected earnings reports from several key players, as well as some other major positive developments.

The bump comes off a week that saw a significant rebound from the week prior, during which the S&P backed off its all-time high amid a major sell-off in biotech and tech. With the day’s gains, those losses have been largely erased. The S&P is once again nearing its all time high if 1,890, achieved only three weeks previous.

Tech-heavy Nasdaq was the big winner on the day, with Micron Technology (MU) leading the way, continuing its fantastic run with a 5.9 percent gain. Facebook was up 3.9 percent on news of a mobile ad network that could greatly increase revenue. Halliburton (HAL) led the oil and gas sector with a better than expected earnings call, gaining 3.32 percent.

The Dow uptick was led by healthcare. The biggest gain from Pfizer (PFE) who rose 2.02 percent on eventually downplayed rumors that the company had been in talks to buy major competitor AstraZeneca Plc. Johnson & Johnson (JNJ) and Merck (MRK) also rose on the day.

Though the trading day did not incorporate the news, Netflix (NFLX) was up over 7 percent aftermarket on a fantastic earnings report.

Results for April 21, 2014

  • Standard & Poor’s 500: +.38 percent to 1,872 points
  • Dow Jones Industrial Average: +.25 percent to 16,499 points
  • NASDAQ Exchange: +.65 percent to 4,122 points

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