Market Wrap-Up for Sept. 10 (GS, V, NKE, BAC, more)

Despite all the bearish warnings heading into September, the month has gotten off to a decidedly bullish start. Stocks all around the globe rallied today, helped by better-than-expected economic data from China. The U.S. indices are rallied as well, extedning yesterday’s significant gains.

Dow 30 Shake Up

Probably the most widely-covered story on Wall Street this morning was the shake up in the components of the Dow Jones Industrial Average. It was announced that Goldman Sachs (GS), Visa (V), and Nike (NKE) would replace Bank of America (BAC), Hewlett-Packard (HPQ), and Alcoa (AA) on the widely-watched (and scrutinized) 30-stock index. These changes will be put into effect after the closing bell on Friday, September 20th.

Because of these moves, investors and traders are sent shares of Goldman Sachs, Visa, and Nike higher this morning. Hewlett-Packard and Alcoa shares edged slightly lower on the day, while Bank of America shares rallied along with the rest of the financial stocks.

Stocks on the Rise

Other stocks getting a bump today were Cisco Systems (CSCO), after the company announced an acquisition, Wal-Mart (WMT), after it announced a new smartphone trade-in program, Pep Boys (PBY), after its second-quarter earnings call pleased investors, and Casey General Stores (CASY), following its investor-pleasing first quarter earnings release.

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Wall Street analysts’ upgrades helped shares of Raytheon (RTN), Masco Corp. (MAS), National-Oilwell (NOV), Merck (MRK), and Marvell Technology (MRVL) head into positive territory as well today.

Stocks on the Decline

Due to the news that a resolution might be on the horizon in Syria, the price of oil and gold have been sliding in today’s trading. As such, stocks like Hess Corp. (HES), Anadarko Petroleum (APC), Goldcorp (GG), Barrick Gold (ABX), and other energy and gold mining stocks were dragged into negative territory.

Other stocks on the decline today were PVH Corp (PVH