Dow Rallies 240 to Close at 18k

Markets surged upwards in trading today. The Dow's rolly led the push, but all three major American indices were up. The Dow gained 236.36 points to close the day back above the 18k benchmark at 18,000.40. The S&P 500 added 25.05 points to close up 1.20% to 2,105.20. The NASDAQ gained 62.82 points and closed at 5,076.59.

Asia Down Again, European Stocks Up

Asian markets didn't recover today in the same way that domestic and European markets did. Japan's Nikkei was down again, shedding another 50 points. Hong Kong's Hang Seng index was hit hardest of all, losing 300 points on the day.

Netflix (NFLX) is Up 30 Points in Two Days, Some Say Split Coming

Netflix (NFLX) and Amazon (AMZN) rode out the latest downturn together, and posted gains yesterday when the rest of the tech sector was down.
They both rose together again today, with  Amazon up another 1.24% to $430.77. Netflix piled on the gains, shooting up an additional 23 points and getting analysts talking about a potential stock split. There is some precedence, with Google (GOOG) splitting when it hit near the same levels. Netflix closed the day at $671.10.

Rally Brings Gains Across the Board

Most days the Dow has been concentrating gains in the health services sector while energy and utilities drop. Today's rally touched nearly every corner of the market, from biomed to telecom to transportation. In fact the rally was so spread out that, of the Dow's 5 biggest gainers, no two were from the same sector. Alexion Pharmaceuticals (ALXN) lead the Dow in gains, posting 10.82 points to close at $169.88, or nearly 8% on the day. Johnson Controls (JCI) is up on the news that Goldman will help them spinoff their automotive unit. iShares Exponential Technology (XT), a tech company, rose by 1.50% to close at $26.32.

The health services sector itself was up too, not being immune from the mood of the day. The biggest gainers were spread out among the different segments. It wasn't just Alexion (ALXN) that was making money in the pharmaceuticals segment.  Cerner Corp (CERN) was up 1.40 points to close at $67.17.

Commodities had a tough day, with the rest of the market rising around it. Gold and corn fell in trading today, and precious metals are plummeting in the electronic aftermarket. Oil closed the day above $61 per barrel, but has since dropped in aftermarket trading.
Published on Jun 10, 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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