Reuters Insider - Nasdaq sets new all-time high

GlobeImmune

28/05/2015 10:02

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 Source:             Thomson Reuters                                   
                                                                       
 Description:        The Nasdaq set a new high led by a rebound in     
                     technology and healthcare stocks and on optimism  
                     that Greece would avoid defaulting on its debt..  
                     Bobbi Rebell reports.                             
 
 
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Transcript (May be auto-generated)

                 The NASDAQ hitting a new all-time high on Wednesday with the other major US 
indexes also in the plus column. A rebound in technology and healthcare stocks 
as well as optimism about the Greek debt situation helping to lift shares. 
Charles Schwab's Jeff Kleintop. Markets are very volatile. Every little data 
point is being extrapolated to see what it means for the Fed. I think what we'll
see is firming economic data. While it does mean the Fed is likely to raise 
interest rates, it's also good news for the stock market. It was a tale of two 
luxury retailers. Shares of Michael Kors fell 24%, hitting a new 2.5-year low 
after the handbag-maker reported its slowest quarterly revenue growth since it 
went public in December of 2011. Michael Kors' rivals Coach, Kate Spade, and 
Fossil shares all fell in sympathy on Kors' report of lower tourist traffic, 
weak watch demand, and shipping delays caused by the West Coast port 
disruptions. However, Tiffany's shares jumped after the luxury retailer's 
quarterly profit beat estimates. Apple's stock moving higher. 

CBS Chief Les Moonves saying he met with Apple last week to discuss a TV deal. 
Laggards included softwar-maker for human resource services, WorkDay. Shares 
continued to lose steam a day after the company forecast current-quarter 
billings below market expectations and reported a bigger than expected first 
quarter loss. Shares of GlobeImmune tanked by more than 50% after its hepatitis 
B drug failed in a mid-stage trial. In Europe, stocks rebounded from a one-week 
low on reports of a staff-level agreement between Greece and its creditors