The Dow saw its 18th straight positive Tuesday and added 123.57 points while the S&P hit a new high as well. Financial stocks including Bank of America (BAC) and JPMorgan Chase (JPM) along with the energy, health care and utilities sectors advanced. Apple (AAPL) saw a big drop in stock of 2.4% while Sony (SNE) jumped 9.1% after hedge fund founder Daniel Loeb bought 6.3% of the company’s shares. It was reported that US import prices dropped 0.5% in April from March and export prices saw the largest decline since June of 0.7%. The producer price index fell for a second month in a row due to lower oil prices and another report showed an unexpected drop in home builder sentiment.
Word on the Street
- Economic hopes and a stronger dollar send US stocks higher on Tuesday.
- Greece gets a credit rating upgrade to B- from the Fitch ratings agency.
- Nokia (NOK) reveals its latest Lumia smartphone to compete with industry leaders.
- Shares of Tesla Motors Inc. (TSLA) stumble after four-session winning streak.
- Burger King’s (BKW) Value Menu Troubles.