This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Stock Market Story: Stocks Gain as Nasdaq Trades Near Best Levels of the Day


NEW YORK (TheStreet) -- In the absence of any deeply worrying economic news, and with some decent global data and a breather from geopolitical jitters, stocks were trading higher midday Wednesday, with the Dow Jones Industrial Average (DIA) turning positive for the year and the Nasdaq (QQQ) staying near its best levels of the day.

The S&P 500 (SPY) was rising 0.55% to 1,944.32. The Dow Jones Industrial Average was advancing 0.38% to 16,623.77. The Nasdaq was up 0.84% to 4,425.88 bolstered by tech heavyweights Amazon (AMZN), Google (GOOG), Apple (AAPL), Microsoft (MSFT) as they rose between 0.8% and 3.5%. Chip stocks were also lending support.

Read More: King Digital Entertainment in Worse Shape Than Earnings Suggest

As of Wednesday, technical indicators were suggesting that the S&P 500 will likely stay rangebound between the levels of 1,910 to 1,950 for the remainder of the summer, according to Rockwell Global Capital's chief market economist Peter Cardillo.

Overseas, China reported high-single-digit industrial output growth overnight and the Bank of England raised its 2014 GDP forecast. Japan's second-quarter GDP crashed but due to a widely expected sales tax hike. Eurozone industrial output fell 0.3% in June, but the two largest economies -- Germany and France -- both recorded a sequential rise.

Read More: August 13 Premarket Briefing: 10 Things You Should Know

U.S. retail sales came in lower than the consensus, unchanged in July and up 0.1% excluding autos, the Census Bureau said. But economists are expecting an upward revision in the next report in light of higher U.S. job openings, fewer layoffs, rising consumer confidence and increasing wealth. The government also reported an as-forecast 0.4% increase in June business inventories.

In individual stock news, King Digital (KING) shares were plummeting 23.19% to $13.98 after the maker of the addictive Candy Crush video game reported weaker second-quarter revenue than analysts expected. Amazon was popping 3.44% to $330.31 after saying it will operate a mobile payments system to compete with Square and other payments systems. Tesla Motors (TSLA) rose to a 52-week high of $265.35 on Wednesday after the electric car maker opened two new Supercharger stations in the U.K.

Read More: Why Tesla Motors (TSLA) Stock Hit a One-Year High Today


--By Andrea Tse in New York

Follow @AndreaTTse

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,778.15 +421.28 2.43%
S&P 500 2,061.23 +48.34 2.40%
NASDAQ 4,748.3960 +104.0840 2.24%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs