Stocks Turn and Close Higher, Apple Back to $100, Tesla Shows Plans
The Dow Jones Industrial and the S&P 500 broke a two-day losing streak Wednesday. Stocks managed to turn positive erasing early losses with tech stocks leading the trend. Apple (AAPL) lifted the Nasdaq as one of its most actively traded stocks and is back above $100 dollars a share. Revisions from analysts at UBS helped lift social media stocks. Twitter (TWTR) gained about 4.5 percent after an upgrade to a 'Buy' rating. Other social media stocks like Facebook (FB) and LinkedIn (LNKD) also closed higher after their price targets were raised. Despite the heat getting turned up in the three-way takeover battle in dollar stores, the stocks were little moved on the latest news that Dollar General (DG) is now attempting a hostile bid for Family Dollar (FDO). Family Dollar says it’s sticking with plans to be bought by its other rival Dollar Tree (DLTR). Tesla (TSLA) may have silenced some naysayers who think the electric car maker is hitting a saturation point in North America. The electric car maker tweeted a map showing its supercharger expansion plans in China and Japan through 2015. Shares of Tesla closed about 1 percent higher in Wednesday's trading. But so far this year, the stock has gained about 86 percent.
