Health Care Stocks Lead Positive Day – Acadiana Business Index

Stocks rallied to finish higher on Monday. Ken Meyers has your stock market report on the Acadiana Business Index.

• The Dow gained 95 points to close at 13424. The S&P 500 added over 11 points to finish at 1440. The NASDAQ added 20 points to end the session at 3064. The major averages rebounded from last week’s retreat after a report showed retail sales climbed 1.1% in September.
• Financials also provided a tailwind to the market today. Citigroup advanced $1.91 to $36.66 after posting better-than-expected quarterly results. Goldman Sachs gained $4.30 to $124.50 ahead of its earnings release tomorrow morning.
• Health care was the best performing group on the session. Shares of Eli Lilly rose $2.08 to $52.53 after favorable results of a study for a potential stomach cancer treatment.
• Semiconductor stocks paced the tech sector higher. Texas Instruments added 92 cents to $28.20 on reports Amazon.com is in talks to acquire the company’s mobile chip unit.
• Telecom was the worst performing group today. Sprint gave back early gains on Softbank agreeing to acquire 70% of the wireless company to finish down 4 cents to $5.69. AT&T retreated 42 cents to $35.21.
• Breadth was positive on issues by 2-1 on the NYSE and 7-4 on the NASDAQ. NYSE composite volume totaled 3.4 billion shares.
• The 10-year note was down 3/32 to yield 1.66%.
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For the complete report, click Ken's Market Report.