U.S. markets continued to rise Thursdays as data on U.S. manufacturing activity exceeded expectations. The Dow Jones Industrial Average gained 0.58 percent, down 2.68 percent for the year, while the S&P 500 index gained 0.60 percent, down 0.46 percent for the year. Acccording to Markit, the U.S. flash purchasing managers’ index increase to 56.7 in February, compared to 53.7 in January. "The flash manufacturing PMI provides the first indications that production has rebounded from the weather-related slowdown seen in January. Having slumped to a three-month low in January the PMI surged to its highest for almost four years in February, as companies reported business returning to normal after freezing temperatures and snow disrupted operations and supply chains," said Markit's chief economist, Chris Williamson.
Citrix Systems, Inc. (NASDAQ: CTXS) shares traded in the range of $56.62 to $60.96 Thursday before settling to close at $60.59, an increase of 5.85 percent. The stock appears to be facing some resistance at the $61.02 and $63.11 levels with some support at $59.85 and $58.65. Shares of Citrix Systems have fallen approximately 4.0 percent year-to-date.
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Hewlett-Packard Company (NYSE: HPQ) shares traded in the range of $29.10 to $30.28 Thursday before settling to close at $30.19, an increase of 2.51 percent. The stock appears to be facing some resistance at $31.46 levels with some support at the $29.87 and $28.51 levels. Shares of Hewlett-Packard have gained approximately 8.0 percent year-to-date.
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Verizon Communications Inc. (NYSE: VZ) shares traded in the range of $46.75 to $48.34 Thursday before settling to close at $48.12, an increase of 3.42 percent. The stock appears to be facing some resistance at the $48.72 and $49.34 levels with some support at $48.03 and $47.83. Shares of Verizon Communications have fallen approximately 2.0 percent year-to-date.
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Wal-Mart Stores, Inc. (NYSE: WMT) shares traded in the range of $72.81 to $74.00 Thursday before settling to close at $73.52, a decrease of 1.78 percent. The stock appears to be facing some resistance at the $74.60 and $75.69 levels with some support at $72.39 and $71.85. Shares of Wal-Mart Stores have fallen approximately 6.0 percent year-to-date.
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