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Indicators

Higher open as CPI rises 0.4%

By: MarketMinute.com Market Updates

December 13, 2017 at 09:58 AM EST

The market opened higher with the Dow rising 21 points to 24,525 as consumer prices edged up 0.4%. Nasdaq gained 18 points to 6,880.

On the upside

Finisar (Nasdaq: FNSR) received a $390 million investment from Apple (Nasdaq: AAPL) to increase production of laser diodes that are used in the iPhone X for Face ID, Animoji and portrait mode selfies.

Western Digital (Nasdaq: WDC) and Toshiba have settled their dispute over the proposed sale of their NAND flash memory SanDisk joint venture.

A class action lawsuit was filed against Qudian (NYSE: QD) but the stock price rose.

On the downside

Nordic American Tankers (NYSE: NAT) launched a recapitalization program.

Shares of Lumentum Holdings (Nasdaq: LITE) tumbled after Apple (Nasdaq: AAPL) invested in rival Finisar (Nasdaq: FNSR).

Investors locked in profits on AK Steel Holding (NYSE: AKS).

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 added 3 points to 2,667. Bitcoin tumbled $277 to $16,799.

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