Dow Reaches New Heights — Tuesday’s IP Market Recap
by Marc Bastow | March 5, 2013 5:14 pm
[1]And there it is: Markets opened on a virtual rocket ship upward as the Dow Jones Industrial Average rose more than 150 points Tuesday to blow past October 2007’s high mark[2], while the S&P 500 nibbled at the edges of its own record all day. The party ended with the Dow cracking a new record, and an impressive move to the upside for all three indices.
The Dow, which ended the day with only two components in the red, finished up 0.89% at 14253.77, while the S&P 500 closed ahead 0.96% to 1539.79. The Nasdaq registered the highest percentage gain on the day, ahead 1.32% to end at 3224.13 — its highest level since November 2000.
Dow components Hewlett-Packard (NYSE:HPQ[3]), United Technologies (NYSE:UTX[4]), Cisco (NASDAQ:CSCO[5]), Boeing (NYSE:BA[6]) and American Express (NYSE:AXP[7]) all finished up nearly 2% or more.
The Nasdaq was powered by a rally from two of its biggest heavyweights: Apple (NASDAQ:AAPL[8]) and Google (NASDAQ:GOOG[9]) each gained more than 2%, with the latter continuing to set new all-time highs.
On a day of few low points, of the biggest major casualties was JCPenney (NYSE:JCP[10]), which saw its shares sink more than 10% amid a Wall Street Journal report[11] that said Penney’s board would consider either a buyout or a replacement for CEO Ron Johnson should its sales continue to lag.
Three Up
- Cree (NASDAQ:CREE[12]): Up 14.4% ($6.44) to $51.16. (Read more here[13])
- Sears Holdings (NASDAQ:SHLD[14]): Up 5.6% ($2.46) to $46.63.
- Groupon (NASDAQ:GRPN[15]): Up 4% (22 cents) to $5.64.
Three Down
- Impax Laboratories (NASDAQ:IPXL[16]): Down 26% ($5.20) to $14.80.
- Affymax (NASDAQ:AFFY[17]): Down 6.4% (16 cents) to $2.36.
- Boyd Gaming (NYSE:BYD[18]): Down 5.7% (42 cents) to $6.97.
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing he is long AAPL.
- [Image]: https://investorplace.com/hot-topics/investorplace-market-recap/
- blow past October 2007’s high mark: http://slant.investorplace.com/2013/03/dow-hits-a-meaningless-record-so-whats-next/
- HPQ: http://studio-5.financialcontent.com/investplace/quote?Symbol=HPQ
- UTX: http://studio-5.financialcontent.com/investplace/quote?Symbol=UTX
- CSCO: http://studio-5.financialcontent.com/investplace/quote?Symbol=CSCO
- BA: http://studio-5.financialcontent.com/investplace/quote?Symbol=BA
- AXP: http://studio-5.financialcontent.com/investplace/quote?Symbol=AXP
- AAPL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AAPL
- GOOG: http://studio-5.financialcontent.com/investplace/quote?Symbol=GOOG
- JCP: http://studio-5.financialcontent.com/investplace/quote?Symbol=JCP
- Wall Street Journal report: http://online.wsj.com/article/SB10001424127887323494504578342563083755672.html
- CREE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CREE
- Read more here: https://investorplace.com/2013/03/cree-keeps-leading-way-with-led-lighting/
- SHLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=SHLD
- GRPN: http://studio-5.financialcontent.com/investplace/quote?Symbol=GRPN
- IPXL: http://studio-5.financialcontent.com/investplace/quote?Symbol=IPXL
- AFFY: http://studio-5.financialcontent.com/investplace/quote?Symbol=AFFY
- BYD: http://studio-5.financialcontent.com/investplace/quote?Symbol=BYD
Source URL: https://investorplace.com/2013/03/tuesdays-ip-market-recap-aapl-goog-amx-hpq-csco/