Wall Street Tears Upward For Second Straight Day

Michael Teague  |

Tuesday saw the Standard & Poor’s 500 index higher for the sixth consecutive session as stocks posted a second straight day of substantial gains.

With little economic data coming this week, markets seemed to take heart in the early-morning news that the Syrian regime had accepted a Russian-sponsored offer to turn its chemical weapons stockpiles over to the stewardship of the international community, in an effort to derail US-led strikes. The move unexpectedly threw the ball back into the Obama administration’s court, and will delay the prospect of military action for at least the time being.

The Dow Jones Industrial Average gained 0.85 percent to finish the day off at 15,191.06. Prior to the regular trading session, it was announced that Goldman Sachs (GS) , Nike (NKE) , and Visa (V) would be joining the index, respectively taking the places until now held by Bank Of America (BAC) , Alcoa Inc. ($AA), and Hewlett-Packard (HPQ) .

Microsoft (MSFT) led the index higher, advancing over 2 percent on news that the company’s investors are pushing for a turnaround specialist to replace outgoing CEO Steve Ballmer. General Electric (GE) and Walt Disney Co. (DIS) also ended the day on gains of at least 2 percent. Alcoa and Hewlett-Packard were the index’s worst performers, for obvious reasons, but neither saw shares drop significantly.

The S&P 500 ended the day on a 0.73 percent jump to a tally of 1,683.99 points. Tech shares helped lift the index, with Cisco Systems (CSCO) jumping 1 percent after announcing its $415 million upcoming purchase of the storage device startup WhipTail. Advanced Micro Devices (AMD) and Micron Technology (MU) also gained substantially, lifting the semiconductor industry.

The NASDAQ gained 0.62 percent to 3,729.02 by the closing bell, with much help from tech shares as well. However, Netflix (NFLX) was the story of the day, as the company rose more than 6 percent to an all-time high of $313 by the end of trading.

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Companies

Symbol Name Price Change % Volume
GE General Electric Company 8.19 -0.13 -1.56 82,564,246 Trade
AA Alcoa Corporation 35.97 0.82 2.33 1,138,626 Trade
AMD Advanced Micro Devices Inc. 21.37 0.56 2.69 65,896,265 Trade
V Visa Inc. 140.85 1.61 1.16 5,099,251 Trade
CSCO Cisco Systems Inc. 46.41 2.08 4.69 29,115,107 Trade
DIS The Walt Disney Company 117.06 -0.06 -0.05 3,804,733 Trade
GS Goldman Sachs Group Inc. (The) 203.16 0.67 0.33 2,460,658 Trade
NKE Nike Inc. 74.05 -1.15 -1.53 4,288,750 Trade
BAC Bank of America Corporation 27.84 0.63 2.30 41,915,578 Trade
HPQ HP Inc. 24.31 0.58 2.44 4,986,897 Trade
NFLX Netflix Inc. 290.00 3.27 1.14 7,016,565 Trade
MU Micron Technology Inc. 39.82 1.79 4.71 17,794,318 Trade
MSFT Microsoft Corporation 106.92 1.95 1.86 19,707,596 Trade
MRCR Moro Corp 0.85 -0.15 -15.00 6,605

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