Stocks remained near session highs Monday in early afternoon trading, as fiber optics and gaming software stocks rose, led by Acacia Communications (ACIA) and Take-Two Interactive Software (TTWO).
The Dow Jones industrial average advanced 0.6%, the S&P 500 rose 0.6%, and the Nasdaq climbed 0.4%. Volume was tracking lighter across the board vs. the same time Friday.
Steel, fiber optics and gaming software makers topped the list of gainers in the stock market today, while automakers, food and generic drug stocks lagged.
Take-Two Interactive spiked nearly 5% to a new high in triple its normal trade. The stock is extended from a 39.52 flat-base entry first cleared in late May. The New York-based video game publisher on Friday said a free download tied to its upcoming "NBA 2K17" game will be available Sept. 9. The game will launch Sept. 20.
Also in the gaming software group, Changyou.com (CYOU) popped 9% in massive volume, hitting a 52-week intraday high. The Chinese online gaming company is well extended past a 22.74 cup-with-handle buy point, which it cleared Friday.
IBD'S TAKE: The Computer Software-Gaming group has been moving quickly up the ranks. Find out who the top players are at IBD Stock Checkup.
On the IBD 50, Acacia Communications surged 5.5% in fast turnover. Shares of the recent new issue have soared nearly 400% from their May 13 offering price. Acacia's Telecom-Fiber Optics group is ranked third among the 197 industry groups tracked by IBD.
LGI Homes (LGIH) rose 5%, clearing a 36.54 flat-base buy point in heavy trade. The Texas-based company earns the top Composite Rating, 97, in the 26-stock homebuilder group.
IBD 50 stocks on the downside were few and limited to minimal losses, with NetEase (NTES) and Five Below (FIVE) giving up more than 1% each.
In economic news, personal income climbed 0.4% in July, in line with forecasts. Personal spending edged 0.3% higher, also meeting expectations.
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