The S&P 500 ($SPX) finished the session with a gain of 1.45 points, or 0.11%, and closed at 1,325.54. Out of the index's ten industry groups, the strongest were energy (+0.5%) and financials (+0.5%). The top declining sectors were materials (-0.5%) and health care (-0.4%). The top individual percentage performers in the index were Gap Inc. (GPS) (+10.64%), CMR Group (CME) (+8.36%), and Big Lots (BIG) (+8.27%). The top decliner was Abercrombie & Fitch Co. (ANF) (-13.73%), which lowered its earnings forecast. Ameriprise Financial (AMP) (-8.03%), and JDS Uniphase (JDSU) (-7.16%) were also among the day's top decliners.
The Nasdaq Composite ($COMPX) ended the session higher by 11.41 points, or 0.4%, on Thursday and it closed at 2,859.68. The strongest performer in the Nasdaq-100 ($NDX) was Green Mountain Coffee Roasters (GMCR). GMCR shares jumped 23.85% after it posted earnings of 60 cents a share (18 cents higher than the previous year) and revenue growth of 102%, beating the Street estimates. GMCR saw its share prices plummet from over $115 a share in September to under $35 by November last year. Other top performers included BMC Software (BMC) (+6.66%) and Electronic Arts (EA) (+6.13%). The weakest were Warner Chilcott (WCRX) (-2.78%) and CTrip (CTRP) (-2.57%). Both companies will continue to feel bearish pressure in the week ahead.
Unless otherwise stated, the index action described in this article relates to the E-mini futures contracts for the respective indices. Actual index action may differ slightly in terms of pattern formation, although the market bias will remain the same.
Toni Hansen is president and co-founder of the Bastiat Group Inc., DBA Trading From Main Street. Toni is one of the most respected technical analysts and traders in the industry. She has been trading and educating new traders, money managers, professional market analysts and traders throughout the boom and bust of the last decade. She has worked in conjunction with some of the world's top financial exchanges. Learn more about Toni Hansen and the educational services she provides through her website at http://www.tonihansen.com.