The markets had a mixed day today with the Nasdaq 100 leading the way. The Dow 30 was lower by 13, the S&P 500 gained 2, and the Nasdaq 100, supported by names like Netflix, added 31. The Nasdaq composite actually broke to new, all time highs.
The tech sector was supported by strong moves in some of the FANG names. Amazon (AMZN ) which popped to new highs, added 1.50% in the process. Netflix (NFLX ) was also strong on the day, hitting new highs with a gain of 1% as it was reported that they would be added to the S&P 100. Apple (AAPL ) hit new highs as well. Many analysts are focused on the possibility of another push in the tech names.
Mylan (MYL ) was also a supporter of the Nasdaq and S&P 500 today as shares popped over 4.5%. The popular drug company received news from the Food and Drug Administration of an approval of their drug Fulphila which is now a direct competitor of cancer infection drug Neulasta.Technical traders were quick to cover short positions due to the break above the short term downtrend. This helped support the stocks gains on the day.
Twitter (TWTR ) shares continued their impressive, multi-day move today, hitting new highs as it was announced that the social media company will replace Monsanto (MON ) in the S&P 500 on Thursday. Shares have gained almost 40% in just one month, with almost 10% of that coming just this week. Many technical traders now worry that the stock has moved to far to fast in the short term and is due for a pullback.
In other news, shares of Starbucks (SBUX ) were lower on the day by 2% on the official announcement of the CEO, Howard Shultzs' resignation. It is widely speculated that he is positioning for a run for President of the United States.