Closing Update: Stock End Higher for Seventh Week in a Row; Healthcare Shares Lead Rally

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Stocks finished higher for a seventh week in a row, with the Dow Jones Industrials Average and the S&P 500 both closing at all-time highs. A new slate of mostly positive earnings cooled talk about a possible correction while healthcare stocks got a push higher after a pair of new drug treatments won added support from European authorities. Nine of the 10 industry sectors ended in winning territory, with tech stocks unable to overcome a warning by Intel ( INTC ) that it expects no or little growth next year for PC sales.

In a light day for economic data, the Bureau of Labor Statistics said its monthly Job Openings and Labor Turnover survey found a nearly 3% rise to 3.913 million open job postings during September from the prior month, topping market expectations.

Also, the Kansas City Fed office said its index of manufacturing activity in the central U.S. and Great Plains regions improved to a 7.0 reading this month, exceeding the market consensus expecting the index to remain unchanged at 6.0.

Commodities were mixed. Crude oil for January delivery settled 60 cents lower at $94.84 per barrel while November natural gas rose 7 cents to finish at $3.77 per 1 million BTU. December gold rose 60 cents to $1244.30 per ounce while December silver fell 8 cents to $19.85 per ounce. December copper added 2 cents to $3.21 per pound.

Here's where the U.S. markets stood at end-of-day:

Nasdaq Composite Index up 22.49, or 0.6%, at 3,991.65

Dow Jones Industrial Average up 54 points, or 0.3%, at 16,064.77

S&P 500 up 8.9 points, or 0.5%, at 1,804.76

GLOBAL SENTIMENT

Hang Seng Index up 0.49%

Shanghai China Composite Index down 0.43%

FTSE 100 Index down 0.11%

UPSIDE MOVERS

(+) ATRM, Receives $2.1 mln in orders from both new and existing customers for multiple sets of its VMAX integrated circuit test handlers. ATRM reported $1.9 mln in sales through first nine months of 2013. Delivery is slated for Q1.

(+) POZN, Announces special cash distribution of surplus corporate cash, with the payment of $1.75 per share due Dec. 30 to shareholders of record on Dec. 11.

(+) VNCE, Designer clothing label - formerly known as Apparel Holding Corp - jumps after pricing its initial public offering of 10 mln shares at $20 each. Proceeds, other than $5 mln kept for general corporate purposes, will be used to repay debt.

DOWNSIDE MOVERS

(-) DLIA, Girls' swimwear seller has Q3 net loss from continuing operations of $0.40 per share, compared with $0.06 loss in the year-ago period. Revenue fell 28.9% year over year to $33.0 mln. There were no analyst estimates.

(-) NAT, Supertanker company discoses plans for a $65-mln public offering of shares of its common stock, with CEO Herbjorn pledging to buy $2 mln of the shares. Proceeds will fund NAT's investment in Nordic American Offshore, a rig-supply firm.

(-) VMEM, Narrows per-share net loss by 58% from last year to $0.63 but still lags Wall Street estimates by $0.16 per share. Revenue grew 37% to $28.3 mln, trailing Capital IQ consensus by $3.4 mln. Q4 revenue guidance misses by at least $13.3 mln



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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This article appears in: Investing , Commodities

Referenced Stocks: INTC

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