ISM Breaks 50, Goldman Upgrades, Stocks Surge
Stocks surged higher on Monday after a round of selling last week. The Institute for Supply Management’s Service Index broke the critical 50 line indicating economic expansion. Goldman Sachs boldly upgraded banks and financial companies despite questionable fundamental metrics. Oil pushed higher on the overall bullish day. The DJIA advanced +112.08 to 9599.75, the Nasdaq climbed +20.04 to 2068.15 and the S&P 500 ended higher by +15.25 to 1040.46.
Wells Fargo
(
WFC |
Quote |
Chart |
News |
PowerRating): Climbed 6.90% or $1.81 to $28.09/share on the Goldman Sachs upgrade to “buy”.
Seattle Genetics
(
SGEN |
Quote |
Chart |
News |
PowerRating): Fell 14.59% or $1.92 to $11.24/share after stating it discontinued testing on lymphoma medication.
Petsmart
(
PETM |
Quote |
Chart |
News |
PowerRating): Advanced 3.79% or 79 cents to $21.63/share on the back of a Janney Montgomery Scott upgrade to “buy”.
Limited Brands
(
LTD |
Quote |
Chart |
News |
PowerRating): Grew by 7.75% or $1.25 to $17.38/share after Susquehanna Financial said it likely surpassed sales estimates.
Gold jumped higher $13.50 to $1018.00, oil added 46 cents to $70.36 and the fear index VIX fell 6.42% to 26.84 as the market breathed a sigh of relief.
Find the top 25 ranked ETFs to trade with ETF PowerRatings! Improve your trading with ETF PowerRatings – built and tested specifically to help you trade ETFs successfully. Start Today!
| Market Snapshot | ||||||||||||||
|
| Economic News |
|||
|