Dow also up 4% on week. May have to up my target level. Glad I didn't have any ndx puts
>>Nasdaq up more than 4 pct for second straight week
NEW YORK, Nov 6 (Reuters) - The Nasdaq stock market closed solidly higher Friday as technology and small cap stocks propelled it to its second consecutive weekly gain of more than four percent.
The Nasdaq composite index rose 19.48 points or 1.06 percent on Friday , to 1856 on volume of 938 million shares, with advancing, issues leading decliners by a 4-to-3 margin.
For the week, the index is up about 4.7 percent, following a comparable gain the previous week.
Shares in biotech firm Geron Corp (Nasdaq:GERN - news), the most active Nasdaq issue, more than doubled at one point during the day on news that researchers it helped fund have grown human cells that could ultimately lead to advances in transplants and gene therapy.
Geron shares surged more than 9 points before closing at 17-3/16, up 7-5/16 on the day and above a 52-week high.
Key tech stocks also approached or surpassed 52-week highs, including bellwether Intel Corp (Nasdaq:INTC - news), which rose 1-7/16 to 95-7/16 and Sun Microsystems Inc (Nasdaq:SUNW - news), which advanced 2-1/16 to 61-3/16.
75 Nasdaq stocks reached new 52-week highs on Friday, while 37 hit new lows.
The Russell 2000 index of small-cap issues, many of which are also listed on the Nasdaq, closed up 3.53 points, or 0.89 percent higher, at 400.32.<< |
