Rally Rolls On, Health Care Leads, Finance Up
The stock rally rolled on today, ending the week with the biggest gain since November, 2008. Health care stocks lead the way with upgrades and merger/takeover activity. Financials closed out the week with a stunning 32% increase for shares in the S&P 500. Perhaps foretelling selling, the VIX index climbed slightly despite the positive week. The DJIA advanced +53.92 to 7223.98, the Nasdaq climbed +5.40 to 1431.50 and the broad based S&P 500 eased ahead +5.81 to 756.11.
American Apparel
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PowerRating) – Led the Russell 1000 higher surging 67.79% or $1.01 to $2.50/share upon reaching a financing agreement with a private equity firm.
General Motors
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Smith & Wesson
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PowerRating) – The gun maker climbed 11.33% or .52 cents or $5.11 after beating analysts estimates by 0.04 cents.
Merck
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PowerRating) – Was upgraded to outperform by Sanford Bernstein triggering a 12.65% or $3.04 increase to $27.07/share.
Oil fell $0.78 to $45.80, Gold eased ahead by $6.10 to $930.10 and the fear index VIX surprisingly added 2.87% to 42.36.
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