The General that lead markets higher today was Cisco (CSCO) which rose 9.63% to close at $19.02 a share after beating on earnings and increasing the dividend. Traders bought into the company and the rally helped lift those cloud stocks that all got hit earlier this week, and also lifting the market today overall. The S&P 500 is now near the high of the year.
Homebuilding stocks also rallied hard today after housing starts where up nearly 22% from a year earlier. Stocks that benefited where; Pulte Homes (PHM) gaining 6.42%, Standard Pacific Corporation (SPF) gaining 4.19%. Lennar (LEN) up 3.45%, and Home Depot (HD) which rose 2.38%. All four of those stocks D&D Investments highlighted yesterday on our Facebook page as ones to watch to today. Be sure to “Like” the D&D Facebook page to get further insight during trading hours on market activity and insight into investing.
Two noticeable losers on the day where Facebook (FB) loosing 6.27% to close at $19.87 and China Mobile (CHL) down 7.05% to close at $54.74 after profit growth came in at the slowest in 13 years.
It was the end of the first lockup period for Facebook releasing 271 million shares. And shareholders, insiders such as FB employees and other pre-IPO shareholders, chose to sell today. The next lockup that expires is in November when 1.19 Billion shares are released. Yes, thats over a Billion…
Shares of Apple (AAPL) quietly closed at an all time high today at $636.34 on more Apple TV news that they are in discussions with a major cable company to make and design a set top box (not a TV itself… yet).
Apple 1-Year Chart:
The DOW (INDU) rose 85.33 points at 0.65%. The Nasdaq (COMP) gained 31.46 points at 1.04%. And the S&P 500 (SPX) added 9.98 points at 0.71%.
Oil gained $1.27 to $95.60 a barrel.
Gold rose $12.60 to $1,619.20 an ounce.
The 10-Year Note yield rose to 1.84%.