Closing Update: U.S. Stocks Finish Higher For the Week, Shaking Off Geo-Political Tensions


Stocks rebounded Friday, erasing yesterday's steep sell-off as tensions eased over the downing of a Maylasia Airlines jet and the start of a ground offensive in the Gaza Strip by Israeli forces. All 10 industry sectors in the S&P 500 finished in the black, led by shares of technology and healthcare companies, which were hit hard earlier in the week when the Federal Reserve questioned values of so-called momentum stocks. Commodity-related stocks underperformed as investors sought out riskier asset plays.

Today's gains also picked up support from several well-received IPOs. Sage Therapeutics ( SAGE ) rose nearly 67% in its market debut after the biopharmaceutical firm earlier priced its initial public offering of 5 million shares at $18 apiece, the top of its expected range. Other first-day winners today included enterprise software firm TubeMogul ( TUBE ) and SunEdison ( SUNE ) spinoff TerraForm Power Inc. ( TERP ).

Healthcare stocks continued to enjoy a boost from ongoing mergers and acquisition activity, with Shire plc ( SHPG ) this morning accepting AbbVie's (ABBV) $55 billion buyout offer while Gentiva Health Services Inc. (GTIV) finished with a 16% advance after saying another suitor has emerged with a $17.25 a share offer, trumping Kindred Healthcare's (KND) $16 bid.

In energy futures, crude oil for August delivery closed down slightly to $103.13 per barrel amid concerns about supply disruptions.

In metals futures, August gold closed down 0.57% at $1,309.40 per troy ounce, down 2.1% for the week, with September silver settling down 1.2% to $20.89 per ounce. September copper was up 0.13% at $3.19 per pound.

Here's where the markets stood at the close:


Dow Jones Industrial Index up 123.37 (+0.73%) to 17,100.18

S&P 500 up 20.10 (+1.03%) to 1978.22

Nasdaq Composite Index up 68.70 (+1.57%) to 4,432.15


FTSE 100 was up 0.17% at 6,749.45.

Nikkei 225 was down 1.01% at 15,215.71.

Hang Seng Index was down 0.28% at 23,454.79.


(+) GOOG - Despite Q2 earnings miss shares gain as revenue trumps estimates.

(+) SWKS - Shares soar on the back of better-than-expected Q3 results, guidance.

(+) SHPG - Inks pact to be acquired by AbbVie


(-) GE - Posts in-line Q2 results, plans IPO of Synchrony Financial.

(-) AMD - Misses Q2 earnings expectations.

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.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: SAGE , TUBE , SUNE , TERP , SHPG

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Spot the Dropout RRC
Spot the Dropout RRC                
Power on/Power Off
Power on/Power Off                  
Spot the Dropout IPC
Spot the Dropout IPC                



Most Active by Volume

  • $16.3201 ▼ 0.24%
  • $10.545 ▲ 0.43%
  • $113.55 ▲ 0.23%
  • $10.74 ▲ 4.27%
  • $5.795 ▲ 0.26%
  • $2.6499 ▲ 10.87%
  • $105.46 ▼ 0.15%
  • $13.895 ▲ 1.13%
As of 8/31/2015, 11:44 AM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by