Wall Street consolidated gains ahead of the weekend on Friday as climbing stocks sent the Standard & Poor’s 500 index to its first ever close above 1,800.
The S&P 500 added 0.50 percent to finish the day at 1,804.76, while the Dow Jones Industrial Average was 0.34 percent higher at 16,064.77, and the NASDAQ added 0.57 percent for a closing total of 3,991.65.
Apparel footwear retailer Foot Locker Inc. (FL) put in an especially good performance on the day, with shares closing over 4 percent higher on news that the company saw strong same-store sales growth during its recently-ended third quarter.
A number of healthcare stocks fared well, especially on the S&P where Gilead Sciences (GILD) ended the day up nearly 4 percent. Biotech firm Biogen Idec (BIIB) had gained almost 13 percent after the company won 10 years of market exclusivity in Europe for a new multiple sclerosis treatment it has been working on.
Tech shares also figured in to the day’s rally. While storage device manufacturer Violin Memory (VMEM) saw shares down a whopping 50 percent, and Intel (INTC) was off by about 5 percent, Micron Technology (MU) , Microsoft (MSFT) were both up on heavy trading, and QUALCOMM (QCOM) rose over 5 percent. Application software firm Splunk Inc. (SPLK) had advanced nearly 23 percent.
For more commodities coverage, our in-house coffee expert Joel Anderson continues his investigationon recent price action in the caffeinated beans market.
Meanwhile, Equities.com’s own mild-mannered analyst Nicolas Bhandari continues his series on investment alternatives to equity-based mutual funds with a report on Treasury Inflation Protected Securities. Jacob Harper, for his part, lays out the basics of dividends investing.
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