S&P 500 On Pace for Second-Highest Close in 10 Weeks

After sustaining six straight days of losses, the S&P 500 is starting to perk up. The index is on pace today for its second highest close in the last 10 weeks.

I was particularly impressed by Johnson & Johnson’s ($JNJ) reaction to its earnings report. Despite guiding lower for the year, the stock has rallied and it’s at a new 52-week high today.

For some time, Oracle ($ORCL) danced close to $30 per share, but the stock finally broke above $30 yesterday. Since then, ORCL has added another 57 cents. AFLAC ($AFL) got as high as $44 per share this morning.

Wright Express ($WXS) has gained back nearly everything it lost during a brutal sell-off in May. The stock isn’t far from a new high.

Earlier I said that Stryker ($SYK) would release its earnings on Tuesday. I was incorrect. The earnings report will come out after today’s close.

Posted by on July 18th, 2012 at 10:40 am


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