June 18, 2013 -- 4:15 p.m. ET - 06/19/13
Stocks rose to close near their best levels of the session. The Dow climbed 138 points to 15318. The S&P 500 gained 13 points to 1651. The NASDAQ advanced 30 points to finish at 3482. The major average advanced for a second consecutive day as investors await the results of the Feds two-day policy for indications whether the central bank may start to taper its bond-buying program. Todays economic data also provided a tailwind to the market. Before the open, a report showed consumer prices rose 0.1% in May as food prices declined for the first time in four years. A separate release revealed building of new homes increased 6.8% last month to 914,000 from a revised 856,000 in April. All 10 sectors in the S&P 500 advanced on the session. Industrials were the best performing group. General Electric was up 2.4% to $24.33. Shares of FedEx added 1.1% to $99.48. Telecom and consumer discretionary stocks outperformed. AT&T was 1.2% higher at $36.17. Best Buy increased 2.4% to $28.06. Hormel was a notable decliner, falling 3.6% to $39.19 after the meat producer reduced its full year earnings forecast. Breadth was positive on the NYSE by 2-1 on issues and 18-5 on volume. NYSE Composite volume totaled more than 3.0 billion shares. Over at the NASDAQ, advancers topped decliners by 7-3 on issues and 15-4 on volume. Treasuries were little changed with the 10-year note flat to yield 2.18%.
Benjamin J. Chuckrow
Senior Vice President " Investments
Wells Fargo Advisors
37 Henry Street, Suite 201
Saratoga Springs, NY 12866
Toll Free: 800-581-5196
This information is obtained from sources and data considered to be reliable, but its accuracy and completeness is not guaranteed by Wells Fargo Advisors.
Wells Fargo Advisors is the trade name used by two separate registered broker-dealers: Wells Fargo Advisors, LLC and Wells Fargo Advisors Financial Network, LLC, Members SIPC, non-bank affiliates of Wells Fargo & Company.