Stocks bounced back today, recovering most of Wednesday’s losses before pulling back a bit in the final hour of trading.
The S&P 500 gained 0.4%, while the Dow Jones Industrial Average added roughly 22 points. The Nasdaq was Thursday’s biggest mover, advancing 0.7%.
Several big-name stocks helped spark today’s rally – including one high-profile tech stock.
Here were Thursday’s biggest winners:
- Facebook (FB): The social network had its best day in nearly a month, rising 5.3%. It wasn’t enough to make up for what has been a rough month for Facebook investors. The stock had fallen 16% in May entering the day, dipping to its lowest level since early November. Two analyst upgrades were the catalysts behind today’s rebound – perhaps a sign of brighter days ahead for Facebook shareholders.
- Goldcorp (GG) and Barrick Gold (ABX): Shares of the world’s two largest gold miners soared today as gold prices continued to rally. Goldcorp shares advanced 5.5%, while Barrick tacked on 7.4%. A 1.5% push in gold prices certainly helped, as the yellow metal closed above $1,400 an ounce for the first time in two weeks.
- GameStop (GME): The mid-cap electronics company is going ex-dividend tomorrow, prompting procrastinating investors to flock to the stock today. GameStop shares were up 5.5% as investors hoped to take advantage of the stock’s generous 3.5% yield. The stock is now up 26% year-to-date.
More From Wyatt Investment Research