Wall Street Rallies on Jobs, Retails Sales Data

Michael Teague |

Investors reacted favorably to Feb. 13 news of an unexpected increase in first-time jobless claims for the previous week, as well as a decline in January retail sales sending stocks on a broad rally for most of the day’s trading activity.

The previous day, St. Louis Fed Reserve President James Bullard’s indicated that a progressively improving US economy would mean a normalization of the Central Bank’s monetary politics, which had somewhat rattled investors.

The Final Tally

●     Standard & Poor’s 500: +0.58 percent to 1,829.83

●     Dow Jones Industrial Average: +0.40 percent to 16,027.59

●     Nasdaq: +0.94 to 4,240.67

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●     The Bank of Ireland (IRE)   is leading the economic recovery in the Irish financial sector, and setting some good precedents along the way.

●     Angie’s List (ANGI) saw shares sink throughout the day after the company’s 4th quarter financials disappointed investors.

On the S&P 500

Leading US cable service provider Comcast Corporation (CMCSA) shed almost 4 percent on the day, after the company announced a $45 billion all-stock purchase of it’s second-place rival Time Warner Cable (TWC) . Shares for TWC went the other direction, gaining about 7 percent by the closing bell. Telecommunications providers Sprint Nextel (S) and AT&T (T) seem to have been caught in the updraft on gains of 4 and 1.5 percent respectively.

One of the day’s worst performances was posted by Whole Foods Market (WFM) , who saw shares take a 7.5 percent dive after releasing disappointing guidance for 2014.

On the Dow

A strong day on the Dow saw 8 components in the red, most of them negligibly so with the exception of Cisco Systems (CSCO) , off over 3.5 percent after releasing its own underwhelming quarterly earnings report. Meanwhile, Unitedhealth Group (UNH) , Boeing (BA) and Nike (NKE) were on the winning-most end of the benchmark index, each up over 1 percent.

On the Nasdaq

Tech stocks were the big story on the Nasdaq exchange, with a number of companies scoring big gains, undeterred by the trouble over at Cisco Systems. Facebook (FB) jumped some 4 percent, while semiconductor company Applied Materials (AMAT) was up nearly 6 percent. Other hardware companies also trading higher were NVIDIA (NVDA) , up 2.25 percent, Intel (INTC) up 0.50 percent, Plug Power Inc. (PLUG) , up nearly 5 percent, and Himax Technologies (HIMX) , up nearly 2 percent. Leading device maker Apple (AAPL) added 1.33 percent ahead of the closing bell.

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
UNH UnitedHealth Group Incorporated (DE) 194.79 2.76 1.44 2,021,757 Trade
HIMX Himax Technologies Inc. 8.68 0.31 3.70 3,490,498 Trade
TWC Time Warner Cable Inc n/a n/a n/a 0 Trade
FB Facebook Inc. 169.64 1.86 1.11 11,383,113 Trade
INTC Intel Corporation 34.65 -0.27 -0.77 26,096,126 Trade
AAPL Apple Inc. 159.78 2.57 1.63 21,594,561 Trade
S Sprint Corporation 8.22 0.14 1.73 7,232,263 Trade
NVDA NVIDIA Corporation 162.55 3.54 2.23 11,243,176 Trade
CSCO Cisco Systems Inc. 31.27 0.59 1.92 24,745,696 Trade
NKE Nike Inc. 54.13 0.52 0.97 8,212,816 Trade
AMAT Applied Materials Inc. 44.45 1.24 2.87 8,663,095 Trade
BA Boeing Company (The) 239.75 4.07 1.73 2,914,602 Trade
WFM Whole Foods Market Inc. 41.71 -0.02 -0.05 4,489,450 Trade
T AT&T Inc. 37.98 0.40 1.06 14,735,774 Trade
ANGI Angie\'s List Inc. 12.20 -0.01 -0.08 331,229 Trade
CMCSA Comcast Corporation Class A Common Stock 41.35 0.55 1.35 11,752,279 Trade
PLUG Plug Power Inc. 2.16 0.05 2.37 3,570,515 Trade
AXGC Axis Energy Corp 0.00 0.00 0.00 0

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