Stocks Close Mostly Higher Following Volatile Trading Day – U.S. Commentary
In company-specific news, Hewlett-Packard is inching higher after quarterly revenue beat expectations yesterday afternoon. Sears declined about 5 percent http://www.todayhotstocks.com after reporting a wider-than-expected loss. Hormel Foods rose 2 percent after sales and profit beat consensus. Discount retailers could be active as well after Family Dollar rejected a takeover offer from Dollar General. Dollar Tree also reported mixed results.
Hewlett-Packard rose after delivering better results, while Sears plunged after reporting that its loss doubled from a year ago. Trading remains light with many investors out on vacation. KEEPING SCORE: The Dow Jones industrial average was up 94 points, or 0.6 percent, to 17,072 as of 3:20 p.m. Eastern. The Standard & Poor’s 500 index rose eight points, or 0.4 percent, to 1,994.
Premarkets: 5 things to know before the open – Aug. 21, 2014
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Stocks move higher; S&P 500 at record high – Quincy Herald-Whig | Illinois & Missouri News, Sports
Reflecting the strength in the telecom sector, the NYSE Arca Telecom Index advanced by 1.2 percent. Sprint (S) helped to lead the telecom sector higher, with the wireless provider climbing by 2 percent after ending the previous session at a nearly two-year closing low. Airline stocks also saw notable strength on the day, driving the NYSE Arca Airline Index up by 1 percent. Strong gains by United Continental (UAL) and JetBlue (JBLU) helped lift the index to its best closing level in two months. Railroad, defense, and semiconductor stocks also moved to the upside over the course of the session, while computer hardware and tobacco stocks saw some weakness.