The stock market indices had an up day.
It was a little choppy, but ended up near the highs for the day on a very positive note.
The day started out with a move down, testing yesterday’s lows on the Nasdaq 100 at 2625 and holding, and getting nowhere on the S&P 500 near 1406, with the low yesterday at 1398. So, a substantially higher low on the S&P 500. That resulted in a strong snapback rally. The NDX jumped from 2624 to 2653, nearly 40 points, in the next couple hours. The S&P 500 jumped from 1406 to just beneath 1414. In the afternoon they backed and filled in a couple tests of lows and highs, held, and then late in the day they came on with the S&P 500 and Dow closing near the session highs going away.
Net on the day, the Dow was up 8.60 at 13,043.09, 2 points off the high. The S&P 500 was up 4.66 at 1413.94, just a penny off the high and 8 points off the low. The Nasdaq 100 was up 16.94 at 2654.83, 7 points off the high and 33 points off the low.
Advance-declines were positive by 150 issues on the New York Stock Exchange, and positive by just 2 issues on Nasdaq. Up/down volume was 3 to 2 positive on New York. Nasdaq had a better than 2 to 1 positive volume ratio.
TheTechTrader.com board was mostly higher. Leading the way among the large-cap stocks, Apple Inc. (AAPL) exploded to nearly 553, backed off to 538.40, and closed at 547.24, up 8.45, on 42 million shares. That’s strong volume for AAPL. Google was up 3.31 to 691.13, 7 points off the low. However, Amazon.com Inc. (AMZN) was off a fraction, down 59 cents to 253.37.
International Business Machines Corporation (IBM) was up 1.05 to 189.70, Netflix Inc. (NFLX) up 2.80 to 86.17, Cheniere Energy, Inc. (LNG) 1.23 to 18.00 on positive news, Universal Display Corp. (PANL) 2.48 to 25.44, and Pharmacyclics Inc. (PCYC), on short-covering, 1.42 to 55.01.
Those were not the only stocks that did well on our board today as there were many gainers. They included Starbucks Corporation (SBUX) up 2.91 to 53.70, Garmin Ltd. (GRMN) up 2.28 to 41.99, and Akamai Technologies, Inc. (AKAM) 3.56 to 39.06, all of which we traded today.
Other gainers of note included low-priced Net 1 Ueps Technologies Inc. (UEPS), up 91 cents to 4.96, or 22 1/2%, on 4.2 million shares, 1400% more than normal. Mitek Systems Inc. (MITK) was up another 40 cents to 3.62, or 12%, on 2.1 million shares. Low-priced Metabolix, Inc. (MBLX) spiked 67 cents to 2.16, or 45%, on 1.1 million shares.
In addition, Hi Tech Pharmacal Co. Inc. (HITK) was up 4.20 to 35.25, Ruckus Wireless, Inc. (RKUS) up 1.77 to 16.40, MGM Resorts International (MGM) 1.00 to 10.97, Bio-Reference Laboratories Inc. (BRLI) 1.32 to 28.63, and Yandex (YNDX) 1.04 to 21.98. Those were among the point-plus gainers on our board today.
On the downside, there were no stocks down as much as a point, only fractional losers, except Green Mountain Coffee Roasters Inc. (GMCR), which gave back 3.39 to 37.78, after reaching as high as 41.52 this morning.