Stocks extended gains in afternoon trading Wednesday, with Goldman Sachs (GS) and Apple (AAPL) among the big gainers on the Dow.
The Nasdaq and Dow Jones industrial average rose 0.9% while the S&P 500 advanced 0.8%. Volume was tracking higher on the NYSE but lower on the Nasdaq vs. the same time Tuesday.
Energy, steel and data storage stocks led the upside, while education providers and homebuilders lagged in today's stock market action. West Texas intermediate oil prices climbed 1.2% to $49.20 a barrel; gold slid 0.4% to $1,227 an ounce.
The Dow rallied with all but three of its 30 components gaining. Goldman Sachs led blue chips with a more than 2% pop.
Apple was on track to extend its gains for a fourth straight session as it rose nearly 2% in above-average volume to a 1-month high. Shares are 3% below their 50-day moving average but still 8% below the 200-day line. The iPhone maker is reportedly developing a voice-response personal-assistant device that would rival appliances such as Amazon's (AMZN) Echo. Apple is also looking into electric car charging stations, according to Reuters.
Where does Apple rank in the Telecom-Consumer Products group? Find out at IBD Stock Checkup.
On the IBD 50, Dycom Industries (DY) gapped up and soared 13.5% in rapid trade after a strong quarterly report late Tuesday. Shares jumped past a 73.28 cup-with-handle buy point to its highest level in over five months.
Hewlett-Packard Enterprise (HPE) gapped up and surged 8.5% in fast turnover after reporting Q2 results late Tuesday and announcing plans to spin off and merge its enterprise-services business with Computer Sciences Corp. (CSC). Computer Sciences shares vaulted 35% in massive trade.
In economic news, the U.S. trade deficit in goods widened to $57.5 billion in March, less than projections for $60.2 billion. The Housing Price index rose 0.7% in March, above forecasts for a 0.5% increase.
