The markets were higher today though it was another back and forth day. Pending home sales came in weak and Utilities stocks were lower as well, but a late day rally helped close the markets solidly in the green. This meant a gain of 56 for the Dow 30, and a 10 point gain for the S&P 500. Technology heavy, Nasdaq 100 fared the best, up 73. Tomorrow investors will get a look at GDP numbers as well as unemployment claims which are both market moving numbers.
Macy's (NYSE: M) were slightly higher today as the company announced it is launching a new "Star Rewards" program that will allow members to qualify for "free shipping, additional savings or earn points with every purchase." Macy's credit card holders will be enrolled in one of three levels and can be upgraded to a higher tier based on total annual spending.
Micron Technology (NYSE: MU) was a big winner today as shares popped 8.51%. The move also hit new highs in the process as the bulls tripped over themselves to enter. Volume was well above average and shares closed near their highs of the session. For the year MU is now higher by almost 70%.
Amazon (NASDAQ: AMZN) bounced 1.31% today as the stock got an incredible upgrade. Analyst Ken Sena offered a note to clients that has a price target at $1,400 per share, which is the highest of all the analysts that cover the stock. The price target suggest another 48% rally from current prices. Part of his reasoning was that Amazon's "lead in data analytics and its position in artificial intelligence will drive future growth." Amazon shares are higher by 25% on the year.