Friday the markets were all positive again as the media attention was on Dow 20,000 again. This makes the first week in 2016 a positive one where everyone is calm and happy with the market near highs. The Dow 30 added 64, the S&P 500 gained 7, and the Nasdaq 100 added 33. Next week the scheduled news is light, with the normal, weekly economic indicators due. Investors will be anxious to see if all markets can once again make new all time highs.
Amgen (NASDAQ: AMGN) was a big winner today, fueled by news that a federal judge ruled that Sanofi (NYSE: SNY) and Regeneron Pharmaceuticals (NASDAQ: REGN) had in fact infringed on Amgen's patents for its cholesterol lowering drug. The two companies have announced they plan an appeal, but traders celebrated the win by pushing Amgen back above the 200 day moving average.
Apple (NASDAQ: AAPL) was back in the news today as the company announced that it will be opening its first retail store in South Korea. Apple has been continuing to expand overseas as it looks for more growth. Investors cheered the efforts by Apple to stop their recent decline in iPhone sales. The news today sent shares back to previous highs set in October.
Ruby Tuesday (NYSE: RT) was one of the days biggest disappointments as shares lost over 20%. After announcing a bigger than expected loss for the previous quarter shares plummeted. Revenue also declined 18% as well which is also not good news for the restaurant chain.