Fisker, Nordstrom Drive Higher as Stock Markets Pause
The stock market took a pause on Wednesday morning, giving up a small portion of the gains that took the Dow Jones Industrial Average (DJINDICES: ^DJI) and S&P 500 (SNPINDEX: ^GSPC) to record heights on Tuesday. Investors reacted to news that unemployment claims remain stubbornly high, yet the federal government still doesn't seem to be any closer to an agreement on whether there'll be another stimulus package to help struggling Americans cope. As of 11:30 a.m. EST, the Dow was down 137 points to 29,910, and the S&P 500 fell 11 points to 3,624. However, the Nasdaq Composite (NASDAQINDEX: ^IXIC) bucked the trend and pushed slightly higher, with an 18-point rise to 12,055 that's putting it close to record levels of its own.
Even with the markets taking a pause from their big bull run, some individual stocks had noteworthy performances. That included Fisker (NYSE: FSR), one of the more recent entrants in the red-hot electric vehicle industry. More surprising on the gainers list was Nordstrom (NYSE: JWN), with the department store retailer giving shareholders some upbeat news.
Shares of Fisker were up 22% Wednesday morning, bouncing back from a small pullback over the past couple of weeks. The newly public company got a vote of confidence from the Wall Street community that inspired shareholders to boost the stock price.
Source Fool.com
