US Stocks took a hit on Thursday, but they ended the day higher than expected after steady gains during the day. Much of the fluctuation could be attributed to the computer malfunctions on Wednesday that shut the NYSE down for several hours that day. Additionally, anxieties regarding the Chinese markets stabilization efforts caused sharp trades and knee-jerk reactions.
International Worries Move US Stocks
All the worries over both the Chinese market dive and the NYSE computer glitches seemed to be for naught. Both situations have appeared to reverse themselves and show gains for the markets. The Chinese markets are starting to rebound, and investor confidence is returning. The Shanghai Composite was up 5.8% after several days of losses. Uncertainty is a very real destabilizer to stock trading. It surged to 3,900.89 during the morning break. These gains are likely contributed to positive health-care, industrial and consumer companies advanced. The Greek debt crisis was already creating problems for traders given the difficulty reaching a suitable agreement. Greece’s continued membership in the Eurozone is unclear.
The majority of the instability experienced in the US Markets have been attributed to global economic concerns; however, some analysts think the most recent job numbers are stoking the urge to pull out of commitments and sell. During Wednesday trading, the NYSE floor was abruptly shutdown due to computer malfunctions. There was an increase in profits, mostly in the aerospace and automotive industries. Jobless claims can be a sign of layoffs in the market. The number of layoffs climbed by 15,000 last week alone. Analysts predict that selling pressure will continue to be applied, which is important.
Stocks to Watch
Novavax Inc. (NASDAQ:NVAX), +11.00% just pulled out of a four-month base. The stock has picked up a smidge and has been dwindling for the past couple weeks, setting up very nicely for more upside. Earlier in the week, the stock was uåçp 19 cents to 11.35 on 4 million shares. The target is 13.75, and beyond that 17.00.
Radius Health Inc. (NASDAQ:RDUS), +3.18% is performing well. It started to move around in mid-June, and once it was done seesawing, it is now in full recovery mode. The stock chart looks like a wedge, which denotes an uptrend. If it maintains volume and breaks out above the 70.50 range in the next couple days, it could run to 80.00, and then near 100.00.