Published on February 1st, 2013 | by Randomguru
Live Blogging the Stock Market: 02.01.13
Note: The video above covers Apple stock ($AAPL).
Today, I think I’ll “live blog” the stock market.
11:15am – I haven’t done this in awhile, so I’ll need to “get my feet wet again”, so to speak.
Basically, we are in rally mode today, which is interesting, given that the jobs report says that unemployment has risen in the past month. But, this is usually typical with contracted work since January is usually a slow month for job growth, especially after the holidays.
Still, here we are in a pretty strong rally mode, and the Dow Jones Index is above 14,000 points and the Nasdaq is above 3,000.
My own portfolio is looking good so far today.
Apple is Sucking
Once again, only Apple ($AAPL) is floundering close to the 52-week low.
Can Intuitive Surgical Maintain Its Upward Trend?
11:45am – The chart below points out the obvious, that Intuitive Surgical’s stock ($ISRG) had a major gap up, close to its 52-week high!
In case you aren’t familiar with Intuitive Surgical, they are at the cutting edge of robotic hardware/software in the field of medical technology, offering robotic surgical solutions and non-invasive, fiber optic surgery, etc.
They have recently profited in their last quarter by selling a bunch of their Da Vinci robots, which are ultra-expensive surgical robots. And this is the future of surgery.
Anyway, the question remains. Will it surpass its previous 52-week high of $594.89 a share?
That is why I’ve been following this stock closely in the past day or two.
The Final Hour
12:00pm – It is now the final hour of trading.
Half the stock portfolio has dropped into negative territory for the day. Two stocks going negative with P&L.
Gainers: $ISRG $SNY $V $S
Losers: $NGG $RTK $XOM $AAPL
Is Starbucks Making a Comeback?
12:50am – Okay, judge for yourself… looking at the chart below. It’s obvious Starbucks is making a comeback of sorts. I know that the stock had dropped when they bought that Evolution company, and then it dropped some more when they bought that Bay Area bakery. The question is, did we pass up that opportunity to buy, back in August or November of last year?
And It’s The Closing Bell!
1:00pm – The major stock indices closed in positive territory, and overall it was a good rally today.
My portfolio finished mostly in the green.
Gainers: $ISRG, $V, $S, $XOM, $AGNC, $MPW
Losers: $RTK, $NGG, $AAPL
The Dow finished at 14,009.79 points.
Nasdaq finished at 3,179.09
S&P 500 finished at 1,513.17
Here’s the recap of the Jobs Report that came out for January 2013.
NEW YORK (CNNMoney)
The jobs recovery continued to crawl forward at a slow pace in January, and there’s little hope it will pick up any time soon. The U.S. economy added 157,000 jobs in January, according to a Labor Department report released Friday. That’s slower growth than in December, when employers hired 196,000 workers.
Call it “Groundhog Day in the labor market,” said Heidi Shierholz, economist with the Economic Policy Institute. “It’s the same old crap. We’ve been waking up to this same story for two years.”
The unemployment rate was 7.9% in January, as 12.3 million people were counted as unemployed. Overall, hiring is barely keeping pace with population growth, and the Labor Department noted that the unemployment rate has barely changed since September.