Technology stocks have been gaining momentum in 2012, up eight of the last nine weeks. However, over the last 12 months, consumer discretionary and health care companies have really powered the rally.
Archive for March 2nd, 2012
Energy-sector equities key mainly off the pullback in crude futures, and Wall Street’s flat finish doesn’t help matters.
DOW 13K?: After closing above 13,000 earlier this week for the first time in nearly four years, the Dow ended the week lower for only the third time this year. It dropped 3 points Friday to close at 12,978.
The stock market reached a couple of milestones this week — Dow 13,000 and Nasdaq 3,000 — but not much else. Stocks crept lower Friday, and the Dow Jones industrial average turned in its third losing week of the year.
Stocks eased off their lows but still failed to close in positive territory Friday, as gains were limited following a robust rally in recent weeks and no major news on the economic front gave investors little reason to jump in.
Solar Stocks Drop 12% For Week Amid Price, Demand Woe
Stocks Dip Friday, But Yelp Soars; Indexes Mixed For Week
Online review site Yelp surged more than 60% in its IPO debut, though the rest of the tech sector closed out the day in the red.
Social media stocks were to the fore as Zynga rallied on plans to decrease its dependence on Facebook while Yelp became the latest internet initial public offering to "pop" on opening.
A quiet day.