U.S. markets kicked off 2012 with a first-day party that saw the Dow jump almost 1.5% — and it was music to the ears to numerous sectors, including some of 2011’s dogs.
Citigroup (NYSE:) led a laundry list of financials charging higher Tuesday, gaining a whopping 7.7% to finish at $34.98. Bank of America (NYSE:), one of the seeming villains of last year, got a 4.3% head start on the rest of 2012, while national bretheren JPMorgan (NYSE:, +5.2%) and Wells Fargo (NYSE:, +3.2%) also celebrated the arrival of Baby New Year.
Materials companies also started hot. ArcelorMittal (NYSE:), which lost almost half its value in 2011, gained almost 9% on the day and finished at $19.77, with sector mates National Steel (NYSE:) and U.S. Steel (NYSE:) climbing 7% and 6.5%, respectively. And InvestorPlace Editor Jeff Reeves got off to a roaring start to the 10 Best Stocks for 2012 competition, as
his pick — 2011 hard-luck story Alcoa (NYSE:) — gained 6.7%.
Only four Dow Jones stocks were absent from the party, including a couple big winners from 2011. Verizon (NYSE:), which gained 12% last year, was down 1%; and McDonald’s (NYSE:) — the best Dow stock of 2011 — fell 1.5%.
Another notable loser Tuesday was Angie’s List (NASDAQ:), one of 2011’s big social IPOs. After the quiet period for Angie’s List expired, analysts were fairly reserved on the stock, sending ANGI shares down more than 6% on the day.
Three Up
- Nabors Industries (NYSE:): Up 9.69% ($1.68) to $19.02.
- Micron Technology (NASDAQ:): Up 7.47% (47 cents) to $6.76.
- Research In Motion (NASDAQ:): Up 6.97% ($1.01) to $15.51.
Three Down
- Aveo Pharmaceuticals (NASDAQ:): Down 19.59% ($3.37) to $13.83.
- Groupon (NASDAQ:): Down 6.59% ($1.36) to $19.27.
- Altria Group (NYSE:): Down 3.68% ($1.09) to $28.56.
As of this writing, Kyle Woodley did not hold a position in any of the aforementioned stocks. Check out our list of previous IP Market Recaps.
