The 4 Stocks That Lifted the Market

Investing

Published: May 12, 2014 4:01 pm

Last Updated: April 28, 2020 6:13 am

May 12, 2014: Markets opened higher on Monday and rose quickly, remaining at or near all-time highs throughout the day. The DJIA put up a record high today and the S&P 500 was within a point of its all-time high. The Nasdaq Composite was well shy of a high, but techs carried the day and the index posted the biggest gain among the three. Shortly before the closing bell the DJIA traded up 0.71%, the S&P 500 was up 0.97%, and the Nasdaq Composite traded up 1.79%.

The Goldman Sachs Group Inc. (NASDAQ: GS) was the DJIA’s big gainer today and traded up 1.62% at $159.75. The big bank had no specific news today, but a report in the Financial Times over the weekend on growth in the bank’s low-risk asset management unit. The stock’s 52-week range is $147.06 to $181.13. Share volume was about half the daily average of around 3.5 million shares traded.

Another rising stock today was General Electric Co. (NYSE: GE) which traded up 1.4% at $26.79 in a 52-week range of $22.62 to $28.09. Volume was about half the daily average of around 31 million shares. GE has made big strides in its wind energy business which is part of the company’s struggling power and water unit. We may be looking at a turnaround here.

Dow component Nike Inc. (NYSE: NKE) gained 1.58% today and traded at $74.60. The stock’s 52-week range is $5.18 to $12.76. Share volume was about 30% lower than the daily average of around 3.8 million shares traded. The coming World Cup will see more teams wearing Nike gear than any other brand — a first. That’s supposed to translate into more sales.

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Leading the charge among tech stocks today was Facebook Inc. (NASDAQ: FB) which traded up 4.41% today at $59.76 in a 52-week range of $22.67 to $72.59. There was no news on the stock, but momentum was clearly moving the tech sector today. Volume was about 30% below the daily average of around 70 million shares.

Of the Dow 30 stocks 24 looked to close higher today while just 6 were on their way to a lower finish.

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