Stocks were higher today as comments from Janet Yellen seemed to clarify the number of rate hikes to be expected this year. The Dow 30 gained 111 (0.63%), the S&P 500 added another 10 (0.49%), and the Nasdaq 100 also had a strong day with a 26 point (0.53%) gain. There are no significant economic numbers or scheduled events for tomorrow so investors will be looking for reasons to make a move.
Whole Foods (NYSE: WFM) shot up another 2.47% today as the grocery chain was profiled favorably in Barron's over the weekend. The report said new buyers could see a return of as much as 20% over the next year. That article sent shares to a new 2016 high and out of a 9 month range.
Shares of Harley Davidson (NYSE: HOG) lost 1.55% today as Goldman Sachs (NYSE: GS) downgraded Harley-Davidson to neutral from buy. In their report, analysts warned of a recent slowdown in sales. Goldman's current price target on the stock is $50.
Walmart (NYSE: WMT) gapped higher this morning as Jefferies issued bullish comments on Walmart. The investment firm upgraded the retailer's stock to buy from hold and raised its price target to $82 from $60. Jefferies noted Walmart's store investments are "yielding broadly improved store conditions," proven by stronger first-quarter sales results. That wasn't enough to keep the retail giant at new highs though. Shares finished only slightly higher, and well off their highs of the session (0.25%).
Lastly, Alibaba (NASDAQ: BABA) continued its volatile trading with a 1.88% gain on the day. This comes after Nestle (OTC: NSRGY) said that they are teaming up with the Chinese e-commerce giant to sell locally produced products on its platform in a six-month campaign.