The Nasdaq rose 0.9%, the S&P 500 added 0.8% and the Dow Jones industrial average tacked on 0.7%.  Volume was tracking down from Friday's level for the NYSE, but it was up for the Nasdaq.  The S&P 500 was back above its 50-day moving average after closing below it Friday, while the Nasdaq remained under its 50-day line. 

Liberty Media (LMCA) jumped 3% in big turnover.  The media stock, No.  16 in Monday's IBD 50 lineup, is trying to break out from a short cup-with-handle or a flat base. 

Apple (AAPL) was slightly positive in fast trade after the stock slumped early and touched a new 10-month low.  Citi on Monday downgraded the stock to neutral from buy, citing concerns about iPhone 5 demand.  Meanwhile, Apple said it had sold more than 2 million iPhone 5 units in China in the first weekend of sales there.  Apple's IBD Composite Rating has slumped to a mediocre 53 out of a best-possible 99. 

Sturm Ruger (RGR), No.  7 in Monday's IBD 50 lineup, fell 1% in strong volume, dropping further below its 50-day moving average.  The firearms maker has retreated as much as 8% below its recent buy point at 48.16, tripping a key IBD sell rule.  Rival Smith & Wesson (SWHC) shed 4% in big turnover, falling to support near its 200-day line.  Several published reports are predicting stricter gun policies following Friday's mass shooting in Connecticut. 

Polaris Industries (PII) shed 2% in heavy volume, undercutting prior support at the 80 level.  The maker of ATVs, snowmobiles and motorcycles continues to work on a new base. 

In economic news, several reports are saying that over the weekend House Speaker John Boehner moved slightly closer to President Obama's position in their fiscal-cliff negotiations.  Meanwhile, New York region manufacturing fell more than expected in December. 

See Also

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Apple (NASDAQ:AAPL) could see an extra 5 cents per share in earnings in the March quarter from a patent sale last month, Well Fargo Securities said in a research report Tuesday.  An entity called Rockstar Consortium on Feb. 3 completed the sale of more than 4,000 patents to RPX for $900 million.  RPX ...

Charter Communications (NASDAQ:CHTR) is reportedly nearing a deal to acquire Bright House Networks, while Comcast says its CFO will leave to head an investment startup.  Both developments come ahead of Comcast's (NASDAQ:CMCSA) bid for regulatory approval of its acquisition of Time Warner Cable ...

Stocks showed mild losses around midafternoon Wednesday after the Fed's latest announcement signaled no big changes.  The S&P 500 dipped nearly 0.2%, while the Dow Jones industrial average edged down 0.1%.  The Nasdaq retreated a fraction.  Volume was tracking down from Tuesday's levels across the ...

Stocks wavered and were essentially flat Wednesday afternoon ahead the Fed's policy announcement at around 2:15 ET.  The central bank is expected to keep its bond-buying program and leave interest rates unchanged.  The Dow Jones industrial average and the Nasdaq were up 0.1% each.  The S&P 500 was ...

Stocks got off to a shaky start Wednesday, with early gains turning to a mixed performance, after the Commerce Department estimated that the economy unexpectedly contracted in the fourth quarter.  The S&P 500 and the Dow Jones industrial average each dipped 0.1%.  The Nasdaq inched a fraction ...

Select market data is provided by Interactive Data Corp. Real Time Services.  Price and Volume data is delayed 20 minutes unless otherwise noted, is believed accurate but is not warranted or guaranteed by Interactive Data Corp. Real Time Services and is subject to Interactive Data Corp. Real Time Services terms.  All times are Eastern United States. * Reflects real-time index prices.