Stocks Hold on to Gains in Late Trading
Stocks are holding on to their gains in late trading after Federal Reserve Chairman Ben Bernanke reiterated before the Congress that the U.S. economy is not likely to slip back into a recession and the Fed is prepared to act if needed.
All three major indexes are currently near session highs. At last check, the Dow Jones was trading 0.69% higher at 12,893.60, the S&P 500 was trading 0.61% higher at 1,372.05, and the Nasdaq was trading 1.13% higher at 2,943.03.
Technology sector is continuing to lead the gains in the S&P 500 in late trading. At last check, the sector was trading 1.90% higher. Industrials are currently trading 1.62% higher, while Consumer Cyclical sector is currently trading 1.49% higher. Financials have been the worst performers today, down 0.05% currently.
Among the major gainers and losers in trading currently are VIVUS Inc. (NASDAQ: VVUS), which is currently trading 9.18% higher at $28.89, Rovi Corporation (NASDAQ: ROVI), which is currently trading 41.53% lower at $10.32, EMC Corporation (NYSE: EMC), which is currently trading 9.49% higher at $25.09, Bank of America Corporation (NYSE: BAC), which is currently trading 3.41% lower at $7.65, Intel Corporation (NASDAQ: INTC), which is currently trading 3.57% higher at $26.28, Lexicon Pharmaceuticals Inc. (NASDAQ: LXRX), which is currently trading 9.91% lower at $2.87, and Aruba Networks Inc. (NASDAQ: ARUN), which is currently trading 9.78% higher at $13.69.
European markets ended mostly higher today, with the FTSE 100 Index in London closing 1.01% higher, and the CAC 40 Index in Paris closing 1.84% higher. Earlier, Asian markets ended mostly lower, with the Nikkei 225 Index in Japan closing 0.32% lower, and the Hang Seng Index in Hong Kong closing 1.11% lower.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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