Good day! With earnings season now in full swing, most eyes have been on the latest numbers, which provided a great deal of relief in last week's shortened trade. The market rebounded strongly from Monday's selloff, cheering the earnings releases that followed throughout the week. Nevertheless, the U.S. markets were closed on Friday for a three-day holiday weekend and action on Thursday was fairly relaxed.
Dow Jones Industrial Average
The bulls held onto the gains they made after hours on Wednesday with earnings, but profit-taking ahead of the weekend kept them in check intraday. Three of the morning's biggest movers were Apple (AAPL), General Electric (GE), and Morgan Stanley (MS). All three were up ahead of the open following their earnings announcements, but it was only Apple (AAPL) (+2.4%) that managed to hang onto those gains. Apple alone was responsible for about 12 points in the gains made in the Nasdaq-100 index, which ended the session higher on Thursday by 17.65 points, or 0.63%, at 2,802.51. It was up 2.01% for the week.
Netapp Inc. (NTAP) (+4.12%) and Netflix (NFLX) (+3.19%) followed Biogen Idec (BIIB) (15.17%) and F5 Networks (FFIV) (+7.15%) at the top of the Nasdaq-100. The weakest performers in the index were Teva Pharmaceutical Inds. (TEVA) (-8.46%), Lam Research (LRCX) (-5.88%), and KLA-Tencor (KLAC) (-4.55%).