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Stocks rise in volatile session

Wednesday, October 07, 2015 - 01:11

The S&P 500 rose for the sixth day on strength in biotechnology stocks. Twitter jumped after a big investor raised his stake in the microblogging site. Bobbi Rebell reports.

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Stocks seesawed along with oil prices. Investors showed little conviction, but materials and healthcare stocks guided the markets higher. Putting a lid on the S&P - poor earnings stemming from exposure to China and the strong dollar. Greywolf Execution Partners' Mark Newton: (SOUNDBITE) MARK NEWTON, CHIEF TECHNICAL ANALYST, GREYWOLF EXECUTION PARTNERS (ENGLISH) SAYING: "A lot of this had to do with crude stalling out and pulling back, and Europe sold off really into its lows into its own close. So, the U.S. has followed suit the last couple of hours." Yuck for Yum investors. Shares lost nearly a fifth of their value. A slow recovery in the China market pushed Yum to slash its full-year profit outlook. Weak sales in China also hurt Nu Skin Enterprises. The skincare products marketer cut its quarterly revenue forecast. It also blamed the strong dollar. So did Adobe Systems. The desktop publishing software company cut its profit forecast for next year. Pure Storage made a disappointing debut on the New York Stock Exchange. Shares of the flash storage company fell. Twitter shares flew higher after Saudi billionaire Prince Alwaleed bin Talal and his investment firm boosted their stake in the microblogging site. In Europe, the three day rally lost some momentum, but stocks managed to close slightly higher.

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Stocks rise in volatile session

Wednesday, October 07, 2015 - 01:11