Stocks End Higher; S&P 500 Moving Close to 1,500 Level
Stocks ended higher in trading today, with the S&P 500 moving close to 1,500 level. Stocks gained as investors cheered some better than expected earnings reports.
Technology sector led the gains in the S&P 500, ending the day 0.57% higher. The tech sector was lifted by Google Inc. (NASDAQ: GOOG) and International Business Machines Corp. (NYSE: IBM), which posted better than expected quarterly results. Tech sector ended the day 0.57% higher. Services sector also rose sharply today, ending the day 0.51% higher. Consumer Cyclical sector was the worst performer in the S&P 500 today, ending the day 1.90% lower. Basic Materials sector ended the day 0.62% lower. Energy sector also fell today, ending the day 0.38% lower.
Among the major movers in trading today were Google, which ended the day 5.50% higher at $741.50, IBM, which ended the day 4.41% higher at $204.72, Apple Inc. (NASDAQ: AAPL), which ended the day 1.86% higher at $514.17, Advanced Micro Devices Inc. (NYSE: AMD), which ended the day 11.43% higher at $2.73, Coach Inc. (NYSE: COH), which ended the day 16.36% lower at $50.75, Molycorp Inc. (NYSE: MCP), which ended the day 10.76% lower at $7.88, and Cree Inc. (NASDAQ: CREE), which ended the day 22.05% higher at $40.85.
European markets ended on a mixed note earlier in the day, with the FTSE 100 Index in London closing 0.30% higher, and the CAC 40 Index in Paris closing 0.40% lower. Asian markets ended mostly lower overnight, with the Nikkei 225 Index in Japan closing 2.08% lower, and the Hang Seng Index in Hong Kong closing 0.10% lower.