Led by bargain-hunting in biotechs and technology stocks, Wall
Street was trading at record highs Monday as investors respond
favourably to recent M&A activity, bullish forecasts for
economic data this week and efforts by the Chinese government to
jump-start its economy with relaxed rules on foreign
The advance started early in
following gains in the overseas markets, especially in Europe where
the lack of violence following a succession vote Sunday by
pro-Russia Ukrainians in the eastern part of the country helped
alleviate worries of geo-political tensions.
There was no economic news on Monday, but the remainder of the
week is filled with data on the housing market, manufacturing and
Crude oil was up $0.77 to $100.76 per barrel. Natural gas was up
$0.06 to $4.48 per 1 million BTU. Gold was up $11.30 to $1,298.90
an ounce, while silver was up $0.47 to $19.59 an ounce. Copper was
up $0.06 to $3.15 per pound.
Among energy ETFs, the United States Oil Fund was up 0.87% to
$36.71 with the United States Natural Gas Fund was down 1.47% to
24.74. Amongst precious-metal funds, the Market Vectors Gold Miners
ETF was up 1.09% to 23.99 while SPDR Gold Shares were up 0.78% to
$125.06. The iShares Silver Trust was up 2.33% to $18.85.
Here's where the markets stand at mid-day:
NYSE Composite Index up 80.12 (+0.76%) to 10,686.81
Dow Jones Industrial Average up 104.47 (+0.63%) to 16,687.81
S&P 500 up 15.96 (+0.85%) to 1,894.44
Nasdaq Composite Index up 63.89 (+1.57%) to 4,135.76
Nikkei 225 Index down 0.35%
Hang Seng Index up 1.82%
Shanghai China Composite Index up 2.08%
FTSE 100 Index up 0.55%
CAC 40 up 0.37%
DAX up 1.26%
NYSE SECTOR INDICES
NYSE Energy Sector Index up 0.45%
NYSE Financial Sector Index up 0.78%
NYSE Healthcare Sector Index up 0.55%
(+) DYSL (+11.03%) Reports Q2 profit, debt refinancing efforts
and decrease in operating expenses.
(+) GURE (+27.87%) Earnings more than double from same quarter
(+) PF (+14.25%) Hillshire Brands (
) made $6.6 billion offer.
(-) NEON (-9.83%) Missed earning and revenue estimates.
(-) DXYN (-11.65%) Announced 2.50 million public offering of
(-) INSY (-17.23%) Short-seller Bronte Capital issued a negative
(-) BPI (-11.31%) Missed analyst estimates for Q1 earnings