Stocks are holding on to their gains in mid-day trading despite some lackluster economic reports as investors cheer some strong tech earnings reports.
At last check, the Dow Jones was trading 0.24% higher at 12,940.07, the S&P 500 was trading 0.26% higher at 1,376.26, and the Nasdaq was trading 0.92% higher at 2,969.68.
Consumer Cyclical sector is leading the gains in the S&P 500 in mid-day trading. At last check, the sector was trading 1.33% higher. Technology sector is currently trading 0.96% higher. Basic Materials sector is up 1.10%, while Energy sector is up 0.72% currently. Utilities have been the worst performers in the S&P 500 today, down 0.19% currently. Financials are currently trading 0.01% lower.
Among the major gainers in mid-day trading today are Walgreen Company (NYSE: WAG), which is currently trading 10.62% higher at $34.26, Mellanox Technologies Ltd. (NASDAQ: MLNX), which is currently trading 40.10% higher at $93, International Business Machines Corp. (NYSE: IBM), which is currently trading 3.84% higher at $195.47, eBay Inc. (NASDAQ: EBAY), which is currently trading 8.95% higher at $44.08, and Georgia Gulf Corporation (NYSE: GGC), which is currently trading 15.22% higher at $33.24.
Among the major losers in mid-day trading are Johnson Controls Inc. (NYSE: JCI), which is currently trading 6.50% lower at $26.48, and NVR Inc. (NYSE: NVR), which is currently trading 11.61% lower at $765.85.
On the economic front, a report released by the Labor Department showed that initial jobless claims rose more than forecast last week to a seasonally adjusted 386,000. A separate report showed that existing home sales dropped 5.4% in the month of June. Meanwhile, the Conference Board?s index of leading economic indicators fell 0.3% to 95.6 in June.
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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht. |
Source: http://thestockmarketwatch.com/stock-market-news/stocks-extend-gains-in-mid-day-trading-23/30978
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