Stock Market Watch

Stocks Extend Gains in Mid-Day Trading

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Stocks are continuing to climb in mid-day trading, with all three major indexes currently in green. Stocks have been pushed higher by better than expected Japanese GDP data and rise in M&A activity.

At last check, the Dow Jones was trading 1.07% higher at 11,389.92, the S&P 500 was trading 1.36% higher at 1,194.85, and the Nasdaq was trading 0.88% higher at 2,530.11.

All sectors in the S&P 500 are currently in green. Utilities are leading the gains in the S&P 500 in mid-day trading. At last check, Utilities were trading 2.53% higher. Energy stocks are currently trading 2.33% higher. Conglomerates are currently trading 1.69% higher, while Industrials are currently trading 1.16% higher. Financials are up 1.58% currently.

Among the major gainers in mid-day trading are Motorola Mobility Holdings Inc. (NYSE: MMI), which is currently trading 56.03% higher at $38.18, DryShips Inc. (NASDAQ: DRYS), which is currently trading 11.76% higher at $3.04, Nokia Corporation (ADR) (NYSE: NOK), which is currently trading 12.97% higher at $6.05, and SunCoke Energy Inc. (NYSE: SXC), which is currently trading 9.36% higher at $15.30.

Among the major losers in trading currently are InterDigital Inc. (NASDAQ: IDCC), which is currently trading 21.28% lower at $59.61, The Estee Lauder Companies Inc. (NYSE: EL), which is currently trading 7.14% lower at $93.65, and Pier 1 Imports Inc. (NYSE: PIR), which is currently trading 4.73% lower at $9.66.

On the housing market front, a report showed that confidence in builders for new single-family homes stayed at very low levels during the month of August. The National Association of Home Builders/Wells Fargo’s home market index stayed at 15 in the month of August. Readings of over 50 are considered good.

Earlier today, a report showed that manufacturing activity in New York region contracted in the month of August.

 

 

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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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.

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