Janet Yellen testified on Capitol hill today which sent the markets to new, all time highs yet again. The Dow 30 added 85, the S&P 500 jumped 9, and the Nasdaq 100 was up 18 on her testimony. Financials also had a strong day on the testimony. Tomorrow Janet Yellen will continue her testimony in front of congress. Traders will also have news from retail sales, along with crude oil inventories.
Apple (NASDAQ: AAPL) shares hit an all time high yet again today (+1.30%) as investors are bullish on the release of a 10th-anniversary iPhone. In addition, Goldman Sachs (NYSE: GS) raised the price target on the stock on Monday to $150 a share, which has many focused on the name for now. In the past twelve days Apple has averaged almost 1% a day. Many technical traders note the short term extension as a warning sign of a possible pullback.
General Motor's (NYSE: GM) blasted off 4.84% today as there was news that the US automaker is "in talks with French carmaker PSA group over the potential sale of its European, Opel division." The deal could be announced within days, according to Reuters. This cause the pop today on heavier than normal volume. Shares are up over 6% on the year.
Aetna (NYSE: AET) shot up 3.10% today as the healthcare company agreed to end its merger plans with Humana (NYSE: HUM). The decision became public after a federal judge sided with the Justice Department and blocked the deal in late January citing antitrust concerns. Aetna investors cheered the news despite the fact that they will have to pay Humana a breakup fee of $1 billion dollars.