Now there's the
rally we've all been waiting for. And then some.
Shares of the world's largest company advanced an astounding
7.35% today - the stock's biggest one-day move since April. Most
analysts are characterizing the move as a correction after a
two-month slump took Apple from an all-time high of $700 a share
to $527 entering the day.
The stock finished the day at $566 - its highest level in
almost two weeks.
As I wrote last week,
Apple's recent struggles
have dragged the entire market down. The stock comprises roughly
13% of the market. Basically, when Tim Cook sneezes, the whole
market feels it.
Not surprisingly, Apple's rally today has reenergized all
The Nasdaq, of course, led the way with a 2.2% gain.
Meanwhile, the S&P 500 advanced 2%, while the Dow jumped
Apple made one of the day's biggest moves. But here were
several other stocks that kicked off Thanksgiving week in
Phillips 66 (
After two weeks of big losses, this oil stock rose 5% today as
the price of oil increased 3%.
Green Mountain Coffee Roasters (NASDAQ:
After closing out last week at its lowest point in more than a
month, shares of the beaten-down specialty coffee company
staged a major comeback today. The stock advanced 11.2% - its
biggest one-day gains since early September.
Abercrombie & Fitch
This retail stock is still riding high after last week's
earnings report revealed the company's first profit growth in a
year. Today's 7% hike was a pittance compared to its record 30%
gains last Wednesday after the earnings report came out. At
$43.70, the stock is the highest it's been since May.
This was the best day for stocks in more than two months.
Encouraging news about the
(the two sides are talking!) had something to do with the bump.
But so did Apple's recovery.
Let's hope it continues.