Stocks Rally for a Second Straight Day
Stocks rose sharply for a second day in a row, with all three major indexes finishing the day at session highs. Stocks rose amid hopes that central banks will provide further stimulus to boost the global economy.
The Dow Jones ended the day 1.46% higher at 13,075.66, the S&P 500 ended the day 1.91% higher at 1,385.97, and the Nasdaq ended the day 2.24% higher at 2,958.09.
For the week, the Dow Jones rose 1.97%, the S&P 500 rose 1.71%, and the Nasdaq rose 1.12%.
All sectors in the S&P 500 ended the day sharply higher. The gains in the S&P 500 were led by Consumer Cyclical sector, which ended the day 2.60% higher. Basic Materials sector ended the day 2% higher, while Energy sector ended the day 1.85% higher. Industrials rose 2.33%. Financials ended the day 2.23% higher. Technology sector ended the day 2.21% higher.
Among the major gainers in trading today were Expedia Inc. (NASDAQ: EXPE), which ended the day 20.11% higher at $54.90, Amazon.com Inc. (NASDAQ: AMZN), which ended the day 7.87% higher at $237.32, Arch Coal Inc. (NYSE: ACI), which ended the day 29.28% higher at $6.80, Alpha Natural Resources Inc. (NYSE: ANR), which ended the day 20.12% higher at $7.01, and Qlik Technologies Inc. (NASDAQ: QLIK), which ended the day 17.67% higher at $20.78.
Among the major losers in trading today were Facebook Inc. (NASDAQ: FB), which ended the day 11.70% lower at $23.70, and Starbucks Corporation (NASDAQ: SBUX), which ended the day 9.42% lower at $47.47.
European markets also rose sharply today, with the FTSE 100 Index in London ending the day 0.97% higher, and the CAC 40 Index in Paris ending the day 2.28% higher. Asian markets also rose overnight, with the Nikkei 225 Index in Japan ending the day 2.02% higher.
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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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