Dow Bounces Back 65 Points in the Beginnings of a Sluggish Recovery

The markets staged a sluggish comeback today, with all three major exchanges posting gains, however small they may be. The Dow added 65.06 points to close at 17,763.24 while the NASDAQ gained 6.71 points to close at 4,886.94. The S&P 500 grew by 7.27 points to end the day's trading at 2,066.96. In overseas trading, Asian markets posted excellent gains. Japan's Nikkei was up 282.01 and Hong Kong's Hang Seng rose by 192.89 points.

Online Services Grow Faster Than Their Real-World Counterparts.  In what has become an increasingly obvious trend, online businesses are staging a much quicker recovery than their brick and mortar counterparts.
Carmax (KMX), which buys and sells used cars online, as well as   providing consumers access to the information about the vehicles they're buying, gained an impressive 6.34 points and closed at $74.73 per share. Autonation (AN) an interconnected group of dealerships that does essentially the same thing, only in the real world rather than the cyber one, has seen profits lag. Today Autonation gained just 0.70 points to close at $64.47 per share.

GoDaddy Stock On The Rise After Successful IPO.  Internet hosting and services provider GoDaddy (GDDY), best-known for their racy commercials and all-in-one web hosting packages, took their stock public today. By the end of the day, GoDaddy settled in at $26.50 per share, up from the initial offering price of $20.00.

Motorola Solutions Can't Find a Buyer, Stock Prices Plunge.  Motorola Solutions (MSI), the software-based offshoot of successful device-maker Motorola saw share prices plunge today. The company announced that it has struggled in finding a buyer, which is no surprise considering the struggling financial outlook of the company. Motorola Solutions fell -4.16 points on the day, and closed at $62.51 per share.

Genworth Financial Spikes On News It Will Spin Off Insurance Arm.  Genworth (GNW) a full-featured financial services firm, saw share prices rise today on news that it was planning on spinning off its struggling insurance department. Troubles began for Genworth's insurance business in 2008 and haven't improved much in the meantime. At present, Genworth is trading up 6%, gaining 0.43 points to close the day at $7.76 per share.

Samsung And Apple Going To War Over Wearables.  Both Apple (AAPL) and Samsung seem poised to take their devices to the next level with wearable technology. Both firms have announced that they're releasing smartwatches and other gadgets which will communicate with your smartphone over the Bluetooth protocol.

Samsung, which trades on an overseas marketplace, has seen share prices rise on the news that it was bringing the competition to Apple on this new front. Apple, which has made multiple new product announcements in the previous few weeks, including a Netflix-style television service and the Apple smartwatch, rose by 1.07 points to close out trading today at $125.32.
Published on Apr 2, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2020. Content published with author's permission.

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