Stocks Stem 3 Days Of Losses As All Indices Rally

Michael Teague |

Stocks rallied on Thursday to bookend three consecutive days of losses in a rally that lifted all three benchmark indices higher by the closing bell.

The Standard & Poor’s 500 closed 0.39 percent higher at 1,697.47, while the Dow Jones Industrial Average ended at 15,498.24 on an advance of 0.18 percent, and the NASDAQ finished the day at 3,669.12, up 0.41 percent.

The Department of Labor’s weekly initial jobless report was the most significant economic data point of the day. The number of claims for the week came in at 333,000, slightly shy of the 335,000 that economists had expected, while last week’s reading was revised up from 326,00 to 328,000, bringing the four-week average to a nearly six-year low.

Tech stocks propelled the S&P 500 higher, with Microsoft (MSFT) , EMC Corporation (EMC) , and QUALCOMM Inc. (QCOM) ending the day higher on the heavy trading.



Microsoft also led the way on the Dow, followed by farm and construction equipment manufacturer Caterpillar (CAT) and aluminum manufacturer Alcoa ($AA).

Tech shares were also the most heavily traded gainers on the NASDAQ, with Groupon (GRPN) up over 21 percent after releasing a promising second-quarter earnings report in late trading on Wednesday. Other techs that did well include Micron Technology (MU) and Stratasys Inc. (SSYS) , up 14 percent to $98.26.

Tesla Motors (TSLA) continued its exponential rise after releasing its own Q2 earnings report in the previous day’s afterhours session that showed the company registering its second straight quarterly profit, as well as beating significantly on earnings, and finished Thursday over 14 percent higher at $153.50.

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
TSLA Tesla Motors Inc. 270.22 7.06 2.68 6,454,659 Trade
AA Alcoa Inc. 32.47 -0.09 -0.28 3,654,475 Trade
SSYS Stratasys Ltd. 19.44 0.25 1.30 433,741 Trade
GRPN Groupon Inc. 3.95 -0.04 -1.00 5,831,813 Trade
MU Micron Technology Inc. 28.76 0.33 1.16 48,262,259 Trade
CAT Caterpillar Inc. 91.51 -0.64 -0.69 3,425,950 Trade
QCOM QUALCOMM Incorporated 56.66 -0.26 -0.46 4,727,610 Trade
EMC EMC Corporation n/a n/a n/a 0 Trade
MSFT Microsoft Corporation 65.10 0.12 0.18 18,617,799 Trade
MGHOF Meghmani Organics D/Sh 0.18 0.00 0.00 0

Comments

Emerging Growth

Inception Mining Inc

Inception Mining Inc a mining exploration stage company engaged in the acquisition, exploration, and development of mineral properties, for gold from owned mining properties.

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…

D-Wave

D-Wave Systems is the first quantum computing company. Its mission is to integrate new discoveries in physics, engineering, manufacturing, and computer science into breakthrough approaches to computation to help solve…