By Staff Reporters
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SPONSOR: http://www.MarcinkoAssociates.com
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Stocks started the short trading week by ticking upward yesterday. Microsoft climbed to its highest in a year after appearing to be the winner in OpenAI’s Sam Altman drama.
Read: Recommendations on books, classes, and music from Bill Gates. (GatesNotes)
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Here is where the major US stock market benchmarks ended:
- The S&P 500 Index was up 33.36 points (0.7%) at 4,547.38; the Dow Jones® Industrial Average (DJI) was up 203.76 points (0.6%) at 35,151.04; the NASDAQ Composite® was up 159.05 points (1.1%) at 14,284.53.
- The 10-year Treasury note yield (TNX) was down about 2 basis points at 4.42%.
- CBOE Volatility Index® (VIX) was down 0.39 at 13.41.
Strength in technology was illustrated by the Philadelphia Semiconductor Index (SOX), which jumped almost 2% and neared a four-month high. Communications services shares were also strong, as were energy companies, helped by a second-straight day of sharp gains in crude oil futures.
The small-cap focused Russell 2000 Index (RUT) rose 0.5% to a two-month high, following last week’s 5.4% rally that outpaced its large-cap counterparts.
And, Bayer’s stock had its worst day ever, dropping the company’s value by ~$8 billion, after a US jury ordered it to pay $1.56 billion over claims its Roundup weedkiller caused cancer and the company had to stop the trial for its top drug candidate because it wasn’t working.
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