Equities Market Roundup: Stocks Rally on Retail and Key Technicals

Equities Editors Desk |

Best BuyU.S. stocks are trading up over 1 percent as investors were drawn back into the market by strong retail data and perhaps oversold equities. Retail sales in the U.S. was not as bad as expected, and major retailer Best Buy (BBY) outperformed in the previous quarter. Major U.S. indices like the Dow Jones Industrial Average and S&P 500 were able to regain some significant footing lost after a six-week sell off in the market. Economic data from China also helped to lift up stocks, as industrial production from the world's second largest economy grew 13.3 percent in May. Commodities prices also received a lift from the positive news, pushing oil up to $98 a barrel. Gold and silver prices continue to test key resistance levels, but there is some indication that the metals may be oversold.

Major U.S. Stock Indices

DJIA: 12,092.04 (+1.16 percent)
S&P 500: 1,289.32 (+1.38 percent)
NASDAQ: 2,680.51 (+1.55 percent)
Russell 2000: 794.52 (+1.92 percent)

In other news:

  • Key Apple (AAPL) executive just got poached by J.C. Penney (JCP). [WSJ]
  • Three years and $700 billion later, FDIC official says Wall Street firms were not too big to fail. [NY Times]
  • Maybe JPMorgan (JPM) CEO was right. The proposed regulation from the Federal Reserve could cost banks 887,624 hours per year just to collect information. [Forbes]
  • Muammar Qaddaffi could be strapped for cash. The Libyan dictator has been starved of funds by international sanctions and closed off from fuel supplies. Experts believe it may be only a matter of weeks before his regime falls. [Bloomberg]
  • More self-directed investors are getting out of stocks and staying in cash. [Fox Business]

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


Symbol Name Price Change % Volume
IBP Installed Building Products Inc. 32.15 0.00 0.00 0


Emerging Growth

Altair Resources Inc.

Altair Resources Inc, formerly Altair Gold Inc acquires, explores and develops mineral properties in Canada. The Company is in the process of exploring its mineral properties.

Private Markets


Wealthfront is an automated investment service that serves as an alternative to traditional financial advisory services. The company manages a diversified, continually rebalanced portfolio of index funds on their clients’…

Almond Smart Home Router by Securifi

Securifi sells user friendly touch screen routers that also have support for IoT/home automation.Securifi’s Almond revolutionized wireless router setup with its easy to use Touchscreen Interface in 2012. Now our…