DJIA Keeps Its Distance from the 20,000 Mark
The Dow Jones Industrial Average (DJIA) closed 42.87 points down and closed at 19,899.29. The S&P 500 Index lost 1.75 points to close at 2,269.
However, backed by the strength in healthcare and technology stocks, the NASDAQ Composite Index touched another all-time high. The NASDAQ rose 10.93 points and closed at 5,487.94.
The stocks fell Thursday, led by the losses in banks and retail stocks. Macy’s Inc (NYSE:M) and Kohl’s Corporation (NYSE:KSS) were the biggest losers of the day, following weak holiday-season reports.
GoPro Stock and Karma Relaunch
GoPro Inc (NASDAQ:GPRO) stock gained almost four percent and closed at $9.35 on Thursday.
However, GPRO stock was down more than two percent in pre-market trading as concerns still remain on its long anticipated “Karma” drone. As per media reports, the company will be relaunching its Karma drone some time in February 2017. The drone had to be recalled less than a month after it was launched as there were reports of malfunctions that caused it to lose power and fall from the sky. According to CEO Nick Woodman, the malfunction was due to a “basic battery retention issue,” as he spoke at the CES 2017 Thursday. Source: “GoPro is relaunching its Karma drone after an embarrassing recall,” Recode, January 5, 2017.)
Alexion Pharmaceuticals Gains
Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) gained 9.5% on Thursday after being hammered over the last year.
ALXN stock had been going down heavily and was hit hard in December when its CEO and CFO resigned, a month after the company began investigating allegations related to the sales practices of its blood disorder drug “Soliris.” ALXN stock may attract little more investor interest at the current levels.
Amazon Stock Gains
Amazon.com, Inc. (NASDAQ:AMZN) gained over three percent as traditional retailers Macy’s and Kohl’s cratered on Thursday. As more and more shoppers prefer buying online, Amazon stands to gain the most from this trend.
Moreover, at the CES 2017 trade show, a number of appliance and home electronics makers announced that they have added “Amazon Alexa” to their products like TVs and refrigerators. This is good for the company’s dominance in the home automation market.
Bullish sentiment is likely to keep AMZN stock buoyant today.
Stock Market News for Today
All eyes will be on the Barack Obama government’s last report on the jobs market on Friday. As the U.S. Bureau of Labor Statistics releases its report, markets will be watching if the numbers meet or exceed expectations.
Toyota Motor Corp (ADR) (NYSE:TM) will also be in focus as President-elect Donald Trump had warned the company over its plans to build a new plant in Mexico. Similar to his threat to General Motors Company (NYSE:GM), Trump has mentioned a big border tax for the carmaker.