Shares of Micron Technology Inc. MU, +2.25% rallied 2.25% to $79.86 Monday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX, +0.71% rising 0.71% to 4,575.52 and the Dow Jones Industrial Average DJIA, +0.27% rising 0.27% to 34,955.89. Micron Technology Inc. closed $18.59 below its 52-week high ($98.45), which the company achieved on January 5th.
The stock outperformed some of its competitors Monday, as Intel Corp. INTC, -0.62% fell 0.62% to $51.51, STMicroelectronics N.V. STM, +0.88% rose 0.88% to $44.89, and Western Digital Corp. WDC, -0.22% fell 0.22% to $50.70. Trading volume (26.5 M) eclipsed its 50-day average volume of 22.9 M.
Our call of the day sees lots of stock buying ahead this year. Corporates, individuals and even foreign buyers will be scooping up $900 billion in equities, says Goldman.
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