Nasdaq Posts Biggest Gains Since Black Friday

Wyatt Investment Research

The Nasdaq is having its best day in nearly three weeks. As usual, Apple (AAPL) is the catalyst behind the tech-heavy index’s big move.

Apple shares had climbed 2.5% as of 2:45 p.m. eastern time. As it often does, the Nasdaq was riding the coattails of the world’s largest company, gaining 1.3%. Black Friday was the last time the Nasdaq gained this much ground in one day.

There are other factors contributing to today’s positive returns. There’s a growing perception that fiscal cliff negotiations have become more serious, feeding investor optimism that a deal may soon get done.

That positivity was enough to push the other indices up a few ticks as well. The S&P 500 and Dow Jones Industrial Average each gained half a percent.

Other big movers on Tuesday included:

  • Delta Air Lines (DAL): +5.5% on the strength of its deal to buy a 49% stake in Virgin Atlantic .
  • Urban Outfitters (URBN): +5% after the clothing retailer’s improved outlook for its fourth-quarter sales.
  • Research In Motion (RIMM): +5.5% after the company unveiled a new feature for its new BlackBerry 10 phone, scheduled for release on January 30.

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