Closing Update: Session-Long Surge Lifts, Market Gauges to Big Weekly Advance; Nasdaq Composite Index Again Tops 5,000

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Wall Street finished with broad-based advances, with the major market gauges posting outsized gains after Dow and S&P 500 component Nike ( NKE ) rose to a record high after posting strong fiscal Q3 financial results. Biotech stocks also provided a boost, with Biogen Idec ( BIIB ) climbing to an all-time high after reporting positive early test results for a prospective Alzheimer's drug.

The Nasdaq Composite index closed above 5,000 for only the second time in 15 years today, and again pulling within close range of its all-time high of 5,132, set on March 10, 2000. Overall, the index advanced 3.2% this week.

The S&P 500 rose 2.7% for the week while the Dow Jones Industrial Average added 2.1% this week.

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

Dow Jones Industrial Average up 168.62 (+0.94%) to 18,127.65

S&P 500 up 18.79 (+0.90%) to 2,108.06

Nasdaq Composite Index up 34.04 (+0.68%) to 5,026.42


Hang Seng Index down 0.38%

Shanghai China Composite Index down 0.98%

FTSE 100 Index up 0.82%


(+) PRTA, Releases Phase I test results indicating its experimental PRX002 immunotherapy treatment reduces protein thought to be linked to the start and spread of Parkinson's disease.

(+) CTRP, Narrows non-GAAP Q4 net loss by $45 mln to $16 mln (RMB98 mln), or $0.11 per share. Revenue climbs 32% from year-ago levels to $326 mln, beating estimates by around $20 mln.

(+) ENVI, Trims Q4 net loss to $1.6 mln, or $0.06 per share, improving on $2.0 net loss last year. Non-GAAP net loss of $0.02 beats by $0.09 per share. Revenue rises 1.6% to $12.7 mln, topping analyst projections by $3.29 mln.


(-) EAC, Board Chairman Quinn Morgan abruptly resigns late Thursday. effective immediately, and is replaced by Gary Scott. Kenneth Lau yesterday also gives up board seat.

(-) KWKA, U.S. Bankruptcy Court in Delaware approves all of the company's "first-day" motions.

(-) THRX, FDA advisory panel limits recommended use of once-a-day "rescue" inhaler to adult asthma patients, voting 18-2 against allowing adolescents ages 12 to 17 to use the device.

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

Copyright (C) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

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

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