S&P Tops 1,850 Again, DJIA Flat on Surging Tech Sector

Jacob Harper |

The S&P once again topped 1,850 and all major indices reported modest to neligible gains on April 8 in anticipation of the earnings report of major aluminum fabricator Alcoa (AA) .

Alcoa’s longstanding relationship to the Dow, coupled with their propensity to report early in the quarter, has made Alcoa the generally accepted bellwether of the entire earnings season. Alcoa has had a string of successful reports, something the bulls would more than like to see continue with the first earnings report of 2014.

Other than the Alcoa earnings, a lack of economic data and little news on the Russian front left the market to its own devices, and the market responded with cautious optimism. Tech led the charge for the S&P and NASDAQ, with First Solar (FSLR) rising 7.01 percent on heavy volume. eBay (EBAY) , Amazon (AMZN) and Netflix (NFLX) also had big up-days, with each gaining over 2 percent.   

In the Dow, Nike Inc. (NKE) was up 3 percent on an upgrade from Stifel. This was offset by slight losses for Goldman Sachs Group (GS) , Boeing (BA) and Pfizer (PFE) , all of whom lost around 1 percent.



Market Results for April 8, 2014

  • Standard & Poor’s 500: +.38 percent to 1851.96 points
  • Dow Jones Industrial Average: +0.06 percent to 16256.14 points
  • NASDAQ Exchange: +0.88 percent to 4112.98631 points

Our Top Stories

  • John Mauldin warns that we need to be wary of “Lions in the Grass,” or hidden dangers in an otherwise friendly-looking economic terrain.
  • Raymond James' Pavel Molchanov
    Raymond James' Pavel Molchanov
    Raymond James analyst Pavel Molchanov tells the Energy Report about the stars he's finding in the emerging "cleantech" sector.

Stocks

 

       

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
ONVO Organovo Holdings Inc. 3.01 0.00 0.00 1,041,381 Trade
AA Alcoa Inc. 33.69 0.47 1.41 2,878,415 Trade
EBAY eBay Inc. 33.53 0.34 1.02 5,486,131 Trade
AMZN Amazon.com Inc. 848.06 4.86 0.58 2,658,695 Trade
FSLR First Solar Inc. 28.87 -0.17 -0.59 4,858,159 Trade
EXG:CA ExGen Resources Inc. 0.02 -0.01 -25.00 49,500

Comments

Emerging Growth

Relevium Technologies Inc.

Relevium Technologies Inc is engaged in the acquisition of products, technologies and businesses relating to musculoskeletal function, specifically Pain Relief, Injury Recovery and Active Performance.

Private Markets

MyForce, Inc.

As parents, we constantly worry about the safety of our loved ones. The media bombards us with incidents from across the nation school shootings, frequent assaults on campuses, and crimes…

Ozobot by Evollve Inc

Ozobot is a world leader in compact super intelligent robots that entertain and educate through fun interactive gaming.