After Market: It's Spring on Wall Street and Stocks Are in Bloom

×

Historically, April has been the best month of the year for the Dow Industrials, and it got off to a good start. Stocks posted solid gains Tuesday, lifting the S&P 500 to a record high. The Dow Jones industrial average (^DJI) gained 75 points, the Standard & Poor's 500 index (^GPSC) rose 13 and the Nasdaq composite (^IXIC) jumped 69 points.

The market's gains were led by some of the biggest name Nasdaq stocks.

Cisco Systems (CSCO) gained nearly 4 percent, while Oracle (ORCL) and Microsoft (MSFT) both added more than 1 percent. Microsoft is at its highest level in about 14 years. Other widely traded Nasdaq stocks also gained. Tesla (TSLA) rose 4 percent, Facebook (FB) gained 4 percent, Netflix (NFLX) rose 3½ percent and Google (GOOG) and Amazon (AMZN) both gained 2 percent.

Yahoo also gained 1½ percent. It's in talks to buy News Distribution Network, the fourth largest online video service.

The other big story involved the automakers. General Motors (GM) edged lower on more bad news: the recall of another 1.3 million vehicles for safety issues, and the grilling CEO Mary Barra received on Capitol Hill. GM shares have taken a hit since the recalls began earlier this year. Still, the stock is up 23 percent from a year ago. Many analysts say the damage to GM stock price is likely to be temporary.

Meanwhile, Ford (F) jumped 4½ percent after reporting better-than-expected sales for last month.

Airlines had another stellar day. United (UAL) jumped 5 percent, while American (AAL) and Delta (DAL) both gained more than 3 percent.

Biotechs continued their bounce back. Pharmacyclics (PCYC) rose 7 percent and Celgene (CELG) gained 5 percent.

And casino operators rose on news of strong gaming numbers from Macau. Las Vegas Sand (LVS), Wynn (WYNN) and MGM (MGM) all gained about 2 percent.

Elsewhere, Intuitive Surgical (ISRG) jumped 12 percent after winning FDA approval for a new surgical system.

Finally, we have to throw in one loser for you. The Medicines Company (MDCO) fell 15 percent after a federal judge ruled against the company's challenge to patents held by a competitor.

What to Watch Wednesday:
  • Monsanto (MON) reports quarterly financial results before U.S. markets open.
  • The Mortgage Bankers Association reports weekly mortgage applications at 7 a.m. Eastern time.
  • ADP (ADP) releases its survey of private-sector hiring at 8:15 a.m.
  • The Commerce Department releases factory orders for February at 10 a.m.
  • The Senate Judiciary Committee holds a hearing on the proposed merger of Comcast (CMCSA) (CMCSK) and Time Warner Cable (TWC).
-Produced by Drew Trachtenberg.


Increase your money and finance knowledge from home

Finding Stock Ideas

Learn to do your research and find investments.

View Course »

Investment Strategies

What's your investing game plan?

View Course »

Add a Comment

*0 / 3000 Character Maximum

11 Comments

Filter by:
k4jlp

Yes, but the Summer hail storms are on the way via NY AG investigation on high speed trading software...it's getting harder and harder for the players to scam.

April 02 2014 at 7:33 AM Report abuse rate up rate down Reply
jim.lapt

The spring market is up, so I might get married to my life partner. So many states along with president Obama approve gay marriage now. Allah bless you president Obama, we in the same sex lifestyle clubs love you for setting us free.

April 01 2014 at 11:32 PM Report abuse -2 rate up rate down Reply
goodgrief61945

Yesterday, "they" said that the first quarter of stocks tanked. Today, everything is all rosey. Who keeps track of these stories?

April 01 2014 at 11:23 PM Report abuse +1 rate up rate down Reply
1 reply to goodgrief61945's comment
jim.lapt

I do

April 01 2014 at 11:25 PM Report abuse rate up rate down Reply
jim.lapt

I want to be a pilot so bad. I know I can fly without LSD.

April 01 2014 at 11:23 PM Report abuse rate up rate down Reply
jim.lapt

I love spring, I get to go to the park and play games with my gay friends. I'm glad the stock market is still up. Our rainbow club bought lots of stock in Trojan.

April 01 2014 at 10:10 PM Report abuse rate up rate down Reply
jim.lapt

I hope the rich do good so my welfare check keeps hitting my bank on time.

April 01 2014 at 10:06 PM Report abuse +1 rate up rate down Reply
jim.lapt

I'm incompetent, and I'm going to get my wool sheered.

April 01 2014 at 10:00 PM Report abuse +1 rate up rate down Reply
analyst0042

Those who swim with the current will always beat those who insist on swimming against the current....famous old proverb.

April 01 2014 at 8:54 PM Report abuse rate up rate down Reply
jwmgrand

Another HUGE 2 day intake rally ..... they are very busy funneling in all capital saying to investors... We can and will Go Much Higher .. This Pony has yet to really stretch its legs ! ...Ambushing investors taking every stinking dollar from them and putting it into this HIGH RISK BUBBLE ...... remember the dot com MELTDOWN .. really its only thirteen years old ...Many really OLD . ( smart ) people are VERY worried say ... we are going to repeat history ... and head south ... with the Paul Revere mayday call of ( Mr. Lewis ) INFORMING us about these HIGH SPEED securities transactions and how they have been rigged ... now when we really head south lets say a morning of bad economic on top of news of overnight LARGE REGIONAL CONFLICT or INVASION . and at the opening bell.... lets just say we blow off 700 points by 11.00 am .....THEN we will continue FED OR NOT to slide down the slope ... at a ( much faster rate ) its like keeping your snow skis pointed downhill ...... wow do you pick up speed ... just look at Gold it speaks volumes .... by not retreating ... if this market was really ( back up the train ) Gold would be at $600 an ounce ... instead it holds its value ...in its trading range ..

April 01 2014 at 6:46 PM Report abuse -3 rate up rate down Reply
wayne

I put $78,000 in the market in 2001 and now I have $904,000

April 01 2014 at 6:43 PM Report abuse +1 rate up rate down Reply
1 reply to wayne's comment
jwmgrand

Time to Sell...... ! if I offered you 100 bucks for every single dollar in your wallet ... would you say No Way ?

April 01 2014 at 6:54 PM Report abuse -2 rate up rate down Reply