Markets rose across the board today, as traders bought and sold over three times as many shares as usual. Today's trading volume was over 330 million total transactions, compared to an average of just over 90 million. The Dow gained 168.62 points, and ended the week above 18,000 -- settling in at 18,127.68 by the end of trading today. The NASDAQ gained 34.04 and closed at 5,026.42, breaking the 5k threshold for the first time ever. The S&P 500 rose 18.79 points to close at 2,108.06. In overseas trading markets were generally up, and Germany's DAX lead the pack with a gain of 141.62 points to close at 12,039.37.
General Motors Is Making All The Right Moves. It's been a tough few years for American car makers, and none of them has had it tougher than General Motors (GM). The company recently announced that it would rework its plan to sell cars in Russia, as the economy there essentially collapses due to a mix of sanctions and plummeting oil prices. General Motors was up 0.22 points today, and over 2% on the week, and closed at $38.87 per share.
Restaurant Holding Group Darden Up After New Olive Garden CEO. Darden Restaurants (DRI) gained 1.88 points today, and closed trading at $66.75. The company recently got a new CEO as major investors bought up enough stock to force a change. Darden holds popular restaurants like Olive Garden, which has come back from the brink of folding in order to make a profit for the restaurant holding company.
Biogen Up Another 10% Today. Investorguide.com has kept a close eye on Biogen (BIIB) this week, as its share price has skyrocketed. We'll cover the company in depth in our Weekly Market Roundup later this evening, but the company added another 10% today. Biogen gained 42.33 points today, and closed at $475.98 per share.
Gold Is Ready For Another Big Drop. Investors who put their faith in gold during this most recent recession should take a second look at their holdings. Gold rose this week, after bond yields fell on further drama over Fed rate hikes, but as the economy recovers gold is set to fall even further. Gold rose over $15 today to end trading at $1,184.60 per troy ounce.
Avon Recovers As Bond Yields Dip. Cosmetics seller Avon (AVP) staged a mini recovery this week for much the same reasons that gold rose. The company is heavily influenced by the value of the US Dollar which partially dictates export volume. Avon was up 5% today, gaining 0.35 points to close at $7.63 per share.