Another record-setting day for the Dow and S&P 500. The Dow (^DJI) gained 129 points to close at 16,956, while the S&P 500 (^GSPC) rose 13 points to 1,973. And the Nasdaq (^IXIC) ended up 50 points at 4,459.
On the economic front there was mixed news for U.S. manufacturing and auto sales in June. The Institute for Supply Management said its index of manufacturing activity fell slightly in June to 55.3, from 55.4 in May--below expectations. Meanwhile, the final purchasing managers index from Markit, a data provider company, came in at 57.3--slightly below a preliminary number but still the highest reading since May 2010.
Chrysler led the pack for auto sales, reporting its best month since June 2007, with sales rising 9.2%. Ford (F) sales fell 5.8% from last year, while General Motors (GM) sales rose 1% despite another massive recall on Monday--this time for 8.5 million vehicles, most of them due to a faulty ignition system. Ford shares lost three cents to close at $17.31 and GM gained $1.29, closing at $37.59.
Twitter (TWTR) named a new CFO, Anthony Noto, who had been a managing partner at Goldman Sachs. Twitter’s current CFO, Mike Gupta, becomes senior vice president for strategic investments. Also today, Sterne Agee said the World Cup is helpful for the Twitter's near-term trends and the firm said it has more confidence in Twitter's long-term user growth. Twitter shares closed up $1.28 to $42.05.
GoPro (GPRO) continues to soar. The stock which began trading on Thursday, gained 20% today, to close $8.25 higher at $48.80.
Netflix (NFLX) shares rose today after Goldman Sachs upgraded the stock from neutral to buy and raised its target price from $380 to $590. Netflix shares closed more than 7% higher at $473.10.
Urban Outfitters (URBN) fell today after the stock was downgraded from outperform to neutral by analysts at Wedbush. The target price was lowered as well from $46 to $37. Urban Outfitters shares closed down 44 cents at $33.42.
Tomorrow, the ADP employment report is released ahead of the Labor Department’s jobs report for June, which will be released on Thursday instead of the usual Friday because of the July 4th holiday.
- Stocks & Offerings
- Investment & Company Information