Nasdaq Nabs Spotlight

On a light trading day, Nasdaq took the spotlight by closing above 4000 for the first time since 2000. The tech heavy index gained 23 points to 4017. The Dow held steady at 16,072.

On the upside

A Seeking Alpha contributor wrote yesterday that Eltek (Nasdaq: ELTK) had significant upside potential.

Tiffany & Co. (NYSE: TIF) reported sharply higher third quarter earnings that surpassed analyst expectations by a wide margin prompting the jewelry retailer to lift its full year earnings outlook.

Argentina was close to finalizing a deal to compensate Repsol for seizing Repsol's 51% stake in YPF (NYSE: YPF) in 2012.

On the downside

Petrobras (NYSE: PBR) stock tumbled on news that the Brazilian government would not raise gasoline prices along with inflation.

Barnes & Noble (NYSE: BKS) swung to a profit for the second quarter but revenue fell to miss analyst expectations.

Third quarter earnings rose for DSW (NYSE: DSW) but revenue fell short of expectations and the shoe retailer forecast full year revenue below estimates.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 held steady at 1802. Bitcoin leaped $114.89 or 14.11% to $928.90.

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