Stocks Snap Two-Day Losing Streak – Acadiana Business Index

Markets finished modestly higher at the closing bell, albeit off of their best levels of the session. Ken Meyers has your stock market report on the Acadiana Business Index.

• The Dow Jones Industrial Average added 62 points to 13,391 after being up by as many as 87 points in earlier action. The S&P 500 ended higher by 4 points to 1461 and the NASDAQ advanced 14 to finish at 3106.
• Stocks snapped a two-day losing streak on the heels of some positive corporate earnings reports. Seven of the 10 sectors on the S&P ended higher, led by gains in industrial stocks. Boeing led the advance with shares adding $2.63 to $76.76. Biotech stocks also showed strength following some positive comments out of the JP Morgan Health Care Conference. Regeneron gained $6.77 to $183.40 and Alexion Pharmaceuticals rallied $2.82 to $100.31. On the earnings front, Alcoa ended 2 cents lower at $9.08 after trading higher for most of the session. In other news, Herbalife rallied $1.60 to $39.95 following reports that activist investor Dan Loeb took an 8% stake in nutritional supplements company.
• Composite volume on the NYSE was 3.6 billion shares with advancers besting decliners by a 2-1 margin. The NASDAQ was 2-1 positive on issues.
• Turning to fixed income markets, Treasuries are modestly higher along the curve. The benchmark 10-year note was up 1/32 to yield 1.86% and the 30-year bond added 3/32 to yield 3.07%.

For the complete report, click Ken's Market Report.