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China To Increase Consumption, Markets Close Higher

Published: 05/21/12 05:51 PM EDT

China's assertion that it will increase consumption in order to improve the global economy lifted the markets to a sharply higher close with the Dow leaping 135 points to 12,504. Nasdaq surged 68 points to 2847.

On the upside

A Seeking Alpha contributor wrote that Magnum Hunter Resources (MHR) was a good buy after its recent price drop.

Krispy Kreme Doughnuts (KKD) reported lower first quarter earnings but the results were better than expected.

Amyris (AMRS) raised $4.1 million on Friday through the sale of more than 1.7 million common shares in a private placement.

On the downside

Shares of Sturm, Ruger & Co. (RGR) dropped after rival Smith & Wesson (NYSE: SWHC) posted strong first quarter results that beat expectations.

Bank of America (BAC) chief executive Brian Moynihan reassured investor conference attendees that he was comfortable with investments made by the bank but the stock price fell.

Shares of Chinese social networking site Renren (Nasdaq: RENN) continued falling after Facebook (FB) shares tanked on its second day of trading.

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 17 points to 764.

Wed, May 22, 2013
07:07 PM		Sharply Lower Close On Disappointing Earnings Disappointing earnings weighed the markets down to a sharply lower close with the Dow tumbling 80 points to 15,307. Nasdaq plunged 38 points to 3463.
03:07 PM		Markets Retreat To Trade Mixed The markets retreated from an early morning rally with the Dow rising 22 points to 15,409 as investors await the release of minutes from the Federal Reserve's policy meeting. Nasdaq lost 14 points to 3487.
10:42 AM		Fed To Continue Stimulus Program, Markets Soar The markets opened sharply higher with the Dow soaring 112 points to 15,499 after Federal Reserve chairman Ben Bernanke said that continued stimulus measures were necessary to sustain the fragile economy. Nasdaq climbed 24 points to 3526.
Tue, May 21, 2013
06:26 PM		Dow Rises To Another Record The markets advanced with the Dow closing at another record as investors await comments from Federal Reserve chairman Ben Bernanke tomorrow. The blue chip index climbed 52 points to 15,387 while Nasdaq gained 5 points to 3502.
01:34 PM		Markets Advance Ahead Of Bernanke Testimony The markets traded higher during the midday with the Dow gaining 50 points to 15,386 ahead of Federal Reserve chairman Ben Bernanke's testimony before Congress tomorrow. Nasdaq rose 6 points to 3502.
10:43 AM		Mixed Open Ahead Of Apple's Testimony The markets opened mixed with the Dow adding 7 points to 15,342 while Nasdaq slipped 6 points to 3490 ahead of Apple chief executive Tim Cook's testimony before the Senate's Permanent Subcommittee on Investigations.
Mon, May 20, 2013
06:07 PM		Investors Lock In Profits After setting new records last week, the markets closed modestly lower with the Dow losing 19 points to 15,335 on profit taking. Nasdaq slipped 2 points to 3496.
03:00 PM		Profit Taking Weighs Down Markets The markets traded lower during the midday with the Dow slipping 12 points to 15,341 as investors locked in profits from last week. Nasdaq lost 6 points to 3492.
10:42 AM		Mixed Open After Records Last Week The markets opened mixed with the Dow slipping 11 points to 15,342 while Nasdaq added 3 points to 3501 as investors took a breather after another record close last week.
Fri, May 17, 2013
06:22 PM		Records For Fourth Consecutive Week Records were set for the fourth week in a row with the Dow leaping 121 points to 15,354 as consumer sentiment climbed to six year high. Nasdaq soared 33 points to 3498.
03:02 PM		Markets Rise As Consumer Sentiment Climbs A gain in consumer sentiment lifted the markets during the midday with the Dow rising 54 points to 15,287. Nasdaq gained 16 points to 3481.
10:42 AM		High Open As Consumer Sentiment Climbs May consumer sentiment climbed to a six year high to lift the markets to a higher open with the Dow gaining 57 points to 15,290. Nasdaq rose 18 points to 3484.
Thu, May 16, 2013
06:29 PM		Economic Data Weighs Down Markets An increase in jobless claims along with a sharp drop in April housing starts weighed the markets down to a lower close with the Dow falling 42 points to 15,233. Nasdaq lost 6 points to 3465.
02:20 PM		Markets Rise On Upbeat Earnings Upbeat earnings lifted the market during the midday with the Dow rising 7 points to 15,283. Nasdaq rose 6 points to 3477.
10:42 AM		Mixed Open As Jobless Claims Rise The markets opened mixed with the Dow slipping 22 points to 15,253 while Nasdaq added 2 points to 3474. First time applications for unemployment benefits rose after falling to five year low last week.
Wed, May 15, 2013
06:43 PM		Record Dow Close Again Another record was set today with the Dow climbing 60 points to close at a new high of 15,275 over a gain in homebuilder confidence. Nasdaq gained 9 points to 3471.
01:23 PM		Rise In Homebuilder Confidence Lifts Markets The markets advanced during the midday with the Dow gaining 66 points to 15,281 as homebuilder confidence climbed in May. Nasdaq rose 8 points to 3471.
11:30 AM		Lower Open As Factory Output Drops An unexpected drop in factory output and industrial production weighed the markets down to a lower open with the Dow losing 13 points to 15,201. Nasdaq eased 2 points to 3460.
Tue, May 14, 2013
06:27 PM		Another Dow Record As Investor Confidence Grows It was another record close for the Dow with the blue chip index leaping 123 points to 15,215 as investor confidence gained momentum. Nasdaq climbed 23 points to 3462.
01:03 PM		Investor Optimism Lifts Markets The markets advanced during the midday with the Dow climbing 78 points to 15,170 on investor optimism. Nasdaq gained 26 points to 3465.
10:42 AM		Higher Open On Lower Import Prices The markets opened higher with the Dow gaining 44 points to 15,136 as import prices fell 0.5% in April. Nasdaq climbed 16 points to 3455.
Mon, May 13, 2013
06:07 PM		Mixed Close Over Stimulus Concerns The markets closed mixed with the Dow losing 26 points to 15,091 despite an unexpected gain in April retail sales as investors worried that the Federal Reserve will soon end its economic stimulus measures. Nasdaq added 2 points to 3438.
01:34 PM		Markets Mixed As Retail Sales Rise The markets traded mixed during the midday with the Dow slipping 20 points to 15,097 while Nasdaq rose 8 points to 3445 as an unexpected 0.1% gain in April retail sales tempered concerns over the possible end to the Federal Reserve's stimulus measures.
10:43 AM		Stimulus May End, Markets Open Lower The markets opened lower with the Dow losing 39 points to 15,079 over a report that the Federal Reserve's stimulus measures may soon end. Nasdaq eased a point to 3434.
Fri, May 10, 2013
06:31 PM		Another Winning Week The markets continued its winning week with the Dow gaining 35 points to close at a record 15,118 over upbeat earnings. Nasdaq climbed 27 points to 3436.
02:06 PM		Mixed Markets As Investors Monitor Global Developments After a record week, the markets traded mixed during the midday with the Dow losing 20 points to 15,061 as investors monitored global developments. Nasdaq gained 13 points to 3422.
11:33 AM		Mixed Open After Record Week The markets opened mixed with the Dow slipping 10 points to 15,071 while Nasdaq rose 10 points to 3419.
Thu, May 09, 2013
06:01 PM		Markets Retreat From Record Highs The markets retreated to close lower with the Dow losing 22 points to 15,082 despite a drop in jobless claims to a five year low. Nasdaq slipped 4 points to 3409.
03:13 PM		Markets Rise As Jobless Claims Drop The markets advanced during the midday with the Dow rising 18 points to 15,123 as investors welcomed a drop in first time applications for unemployment benefits. Nasdaq gained 9 points to 3423.
10:42 AM		Markets Retreat After Yesterday's Record Close Jobless claims unexpectedly dropped to a five year low but the markets opened lower with the Dow losing 25 points to 15,079 after a record close yesterday. Nasdaq slipped 6 points to 3407.
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