Stocks Jump as S&P 500, Dow Reach Record Highs (MU, INTC, CSCO)
Wall Street had a record-setting day on Wednesday as the S&P 500 and Dow reached all-time high levels and the NASDAQ closed at its highest price since 2000. Tech stocks led the market gainers as Micron Technology (MU), Intel (INTC) and Cisco (CSCO) all closed up over 2.3%. Many investors viewed the fact that cyclical shares increased for a second straight day as a sign that this recently rally has staying power since they are closely tied with the pace of economic growth.Gains were almost across the board in trading as 8 of the S &P's 10 primary sectors jumped by more than 1%.
Word on the Street
- China posted a surprise trade deficit after imports jumped for the country.
- ConocoPhillips announced that it would be suspending drilling plans in the Arctic.
- Shares of Facebook (FB) jumped after General Motors (GM) announced that it would start advertising on the site.
Published on Apr 10, 2013By InvestorGuide Staff