After Market: St. Patrick Drives the Bears Out of Wall Street

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Wall Street lit up with green arrows on St. Patrick's Day. Investors wore their shamrock-colored glasses Monday, focusing on a pair of upbeat economic reports, and the fact that there was no violence connected to Crimea's weekend vote to separate from Ukraine and join with Russia.

The Dow Jones industrial average (^DJI) jumped 181 points, snapping a five day losing streak. The Nasdaq composite (^IXIC) rallied 34 and S&P 500 gained 17 points. Technical analysts are happy because the Standard & Poor's 500 (^GSPC) moved back above a key support level, after dipping below that line last week.

Two stocks rallied because they're being added to the S&P index. Biogen-Idec (BIIB) gained 4 percent and Green Mountain (GMCR) gained 2 percent. Both stocks have been red-hot. Green Mountain, in fact, has more than doubled in price. Investors jump on these S&P additions because they know all of the mutual funds that track the index will have to buy them later this week.

Leading the blue chip advance were Boeing (BA), IBM (IBM) and 3M (MMM) --all up about 2 percent. Yahoo (YHOO) gained 4 percent on news that Alibaba plans a U.S. IPO this year. Yahoo owns a 24 percent stake in the Chinese e-commerce giant. And Sina (SINA) rose 6.5 percent, as its Weibo unit said it will list in the U.S.

Sticking with the China theme, electronic vehicle maker Kandi Technologies (KNDI) rallied 23 percent as quarterly results easily topped expectations. This is another stock with a fabulous year-over-year-gain –- it's up nearly 500 percent.

Another winner today: Hertz (HTZ) rose nearly 5 percent on a report it will spin-off its division that rents construction equipment.

Bucking the uptrend today, stocks that provide services and operate TV stations. Gray Television (GTN) tumbled 10 percent after a Wells Fargo downgrade. Others in the sector followed suit: Sinclair (SBGI) fell 8 percent, Nexstar (NXST) lost 9 percent, Lin TV (LIN) declined 4.5 percent.

And the Internet infrastructure firm VeriSign (VRSN) fell nearly 6 percent. There are concerns its contracts could be in jeopardy as changes are made in the management of Internet domain names.

What to Watch Tuesday:
  • Labor Department releases Consumer Price Index for February, 8:30 a.m.
  • Commerce Department releases housing starts for February, 8:30 a.m.
  • Federal Reserve policymakers begin a two-day meeting to set interest rates.
  • Oracle (ORCL) reports quarterly financial results after the market closes.

-Produced by Drew Trachtenberg.


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rogerl1961

The reason this guy went to jail is because he was telling you things that they don't want you to know.....He was 100 percent right about that. The Pharmaceutical companies I am sure did not like his books. I didn't read the diet book but how many people have ever tried a diet that didn't work. If you would read that book and get one tip it could be worth the entire price. If you had a job from this guy at least you had a job. Sorry but Freedom of Speech now days is under attack. Think before you crucify this man..

March 18 2014 at 12:04 AM Report abuse rate up rate down Reply
rogerl1961

I did buy the Mega Memory tapes. They actually were very excellent. I still to this day use the methods to remember things. The money i spent was well spent.

March 17 2014 at 11:58 PM Report abuse rate up rate down Reply
appeallawy

The money boys have engraved every form of investment to practically zero return and having co-opted the government completely stocks or other financial instruments are the only place where again is even possible. It would seem that the only winners are those who own money, those who can buy politicians, and those who run Wall Street.

March 17 2014 at 9:16 PM Report abuse rate up rate down Reply
jwmgrand

I really believe this ( intake rally ) a scheme to draw in the the people on the sidelines with $$$ will be way over by Friday ....... we keep inflating this MASSIVE bubble of securities now with the Fed saying we wont abandon you ... you will have a lifelong teat to nurse on ...... till the news turn SOUR .very fast ...and then its head to the lifeboats ....!

March 17 2014 at 8:11 PM Report abuse rate up rate down Reply
weilunion

The corporate sock puppet press is still selling Wall St. to the masses. Not one criminal bankster went yo jail.

Why is the market or misery index up? Weapons, fraud, global misbehaivor, misery and the rest.

So I am supposed to be pleased at this when I cannot get a job or good food?

Time for revolution

March 17 2014 at 7:14 PM Report abuse +1 rate up rate down Reply
kolblh

OK so send another billion to Ukraine. Wall street loves it.

March 17 2014 at 5:31 PM Report abuse rate up rate down Reply
1 reply to kolblh's comment
weilunion

Yes, and tell us it is about freedom when every democartically elected government that the US does not like is overthrown. Those they like stay. So much for democracy

March 17 2014 at 7:15 PM Report abuse +1 rate up rate down Reply
Dell Wall

How about driving the Snakes of of Wall Street?

March 17 2014 at 5:14 PM Report abuse +1 rate up rate down Reply
1 reply to Dell Wall's comment
weilunion

This will take an organized working and citizen class. Don't see this in America. Just mad and angry people who are ignorant and pumped full of propaganda every day

March 17 2014 at 7:15 PM Report abuse +1 rate up rate down Reply