Gains Records At Stock Market For The 4th Consecutive Day
On Monday, Standard & Poor’s 500 index and The Dow Jones industrial average closed at a record high. While the former gained 7.89 points, or 0.38%, to 2,078.54, the latter rose 154.64, or 0.87%, to close at 17,959.44. The gains enabled the market to register a gain on the fourth consecutive day. The big gainers were technology and pharmaceutical stocks, though shares of the energy companies saw a fall in stock prices due to decreasing oil prices. There was depressing data on sales within America though that did not dampen the pre-Christmas advance. With Christmas approaching, trading was lighter than what is normally seen.
NASDAQ Trading Bucks The Trend, Shows Decline
While Dow and S&P 500 are showing healthy figures, NASDAQ trading declined. The NASDAQ composite picked up 16.04 points, or 0.34%, to 4,781.42. The big movers were Achillion Pharmaceuticals’, whose shares gained 9% after two studies related to hepatitis C treatment showed positive results. Enanta Pharmaceuticals saw a gain of 10.1% after they got regulatory approval for a Hepatitis C treatment. A big loser was Gilead Sciences which saw a fall of 14.3% in its share price after two of their drugs got excluded of coverage by pharmacy benefits manager Express Scripts. Oil painted a sad picture too, with Benchmark U.S. crude falling by $1.26 to close at $55.26 a barrel in New York.
Metal And Energy See Steady Decline In Share Prices
Other oil production and exploration companies like Chesapeake Energy and Southwestern Energy dropped by $1.44, or 7.3%, to $18.42 and $1.69, or 5.5%, to $29.31 respectively. The share price of gasoline fell by 2.5 cents and closed at $1.54 a gallon. Heating oil fell by 1.1 cents and closed at $1.95 a gallon. Metals prices suffered a setback as well as gold fell $16.20 to $1,179.80 an ounce. Silver fell 34 cents to $15.69 an ounce and copper lost a penny to close at $2.87 a pound.