The Stock List: Semiconductors Gain as Gold Stocks Rally After Early Selling
Gold stocks spent most of Tuesday under selling pressure until rallying late in the day to finish in positive territory. Meanwhile buyers remained on the offensive in the market for semiconductor stocks. Also making significant gains on the day were railroad stocks, with both ^UNP^ and ^NSC^ up more than 3%.
Missed earnings sent shares of ^BBY^ to new lows below the 200-day moving average. The stock lost well over 6% ahead of trading on Wednesday. ^CSCO^ announced that it was lowering its longer term growth projections, a move that was accompanied by the stock’s second consecutive higher close.
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Here are 7 Stocks You Need to Know for Wednesday.
Leading the S&P 500 higher ahead of trading on Wednesday were shares of ^CMI^. The stock gained more than 5%, rallying below the 200-day moving average after a three-day retreat.
As noted above railroad stocks were also among the big beneficiaries of buying in Tuesday’s session. In addition to the gains in UNP and NSC, fellow rail stocks like ^CSX^ gained more than 3% while shares of ^KSU^ added more than 5% in closing higher for a second day in a row.
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While most gold stocks were selling off for most of Tuesday’s trading session, buyers arrived late in the day to bid shares of gold stocks like ^KGC^ and ^AUY^ higher on the day, cutting intraday losses in half.
Rallying for a second session below the 200-day moving average are semiconductor stocks ^INTC^ and ^AMAT^. Of the two, INTC is more overbought, finishing in overbought territory below the 200-day on Tuesday.
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Note that 7 Stocks You Need to Know will be on vacation until Monday, September 19. In the meantime, be sure to check out our weekly stock column, 5 Stocks for the Next 5 Days Wednesday morning.
David Penn is Editor in Chief of TradingMarkets.com