Stock Market Watch

Stocks Finish Sharply Higher Ahead of EU Summit

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Stocks rallied in trading today, with all three major indexes finishing sharply higher on hopes that European policymakers will come up with a comprehensive package at the European Union summit in Brussels on Sunday to contain the euro zone debt crisis.

The Dow Jones ended the day 2.31% higher at 11,808.79, the S&P 500 ended the day 1.88% higher at 1,238.25, and the Nasdaq ended the day 1.49% higher at 2,637.46. The Dow Jones and S&P 500 also ended higher for the week.


All sectors in the S&P 500 ended the day in green. Industrials were the best performers in the S&P 500 today, ending the day 2.76% higher. Consumer Cyclical stocks also rose sharply in trading today, ending the day 2.57% higher. Basic Materials stocks ended the day 2.45% higher. Energy stocks rose 1.95%. Technology stocks ended the day 1.45% higher. Financials ended 2% higher.

Among the major gainers in trading today were Seagate Technology Plc (NASDAQ: STX), which ended the day 27.86% higher at $15.42, McDonald’s Corporation (NYSE: MCD), which ended the day 3.72% higher at $92.32, Harman International Industries Inc. (NYSE: HAR), which ended the day 20.55% higher at $43, GNC Holdings Inc. (NYSE: GNC), which ended the day 2.78% higher at $24.01, and Honeywell International Inc. (NYSE: HON), which ended the day 5.82% higher at $51.28.

Among the major losers in trading today were General Electric Company (NYSE: GE), which ended the day 1.92% lower at $16.31, and Dover Corporation (NYSE: DOV), which ended the day 1.57% lower at $52.71.

European markets also rallied in trading today, with the FTSE 100 Index in London ending the day 1.93% higher at 5,488.65, and the CAC 40 Index in Paris ending the day 2.83% higher at 3,171.34. Asian markets ended mostly lower earlier today.

 

edliston
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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