S&P 500 (SPX) faced its biggest yet weekly fall since 2012. Thanks to the earnings from Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) (BRKb.N), and profits gained in most of the sectors in the market, S&P 500 (SPX) managed to reclaim its previous position as of Monday. The stocks increased and closed at a higher price. The benchmark index gained a 0.8 point after its losing streak over two days. It received the highest boost from Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) (BRKb.N). the company proclaimed on Friday that it had recorded an increased profit by 41% in the second quarter. As a result, its class B shares increased by 3.1% and closed at $129.72.

The president of INO.com in Maryland, Adam Hewison, said that even after the wide selloff in the previous week, investors are looking positively at the market. He said that even after all the problems and issues in the world, such as those in Ukraine, Palestine and Israel, the market has not shown any downward trend. Everything is ship-shape. Only in the last week of July was there a problem, which seems to have been overcome. He said that soon the market will resume going up and up.

The utilities sector of the S&P 500 (SPX) index affected the gains. It closed its last trading day at 0.59% lower. Of the 10 sectors of the benchmark index, the utilities sector showed the worst performance. Dow Jones Index (DJI) increased by 0.46% (75.91 points) and closed at 16,569.28. Meanwhile, S&P 500 (SPX) increased by 0.72% (13.84 points) and closed at 1,938.99. Nasdaq Composite (IXIC) increased by 0.72% (31.25 points) and closed at 4,383.89. Even after the advance on Monday, Dow still remains in negative area for the current year. Monday’s session for this blue-chip average closed 7.38 points lower than its value at 31 December, 2013.

Tekmira Pharmaceuticals (TKMR.O) had a roller-coaster day and yet, it closed lower on Nasdaq. It was believed that Tekmira Pharmaceuticals (TKMR.O) could possibly provide a treatment for the outbreak of Ebola virus in Africa. Then, it was reported that another private company had managed to treat at least two patients. Tekmira Pharmaceuticals (TKMR.O) increased by 18.3% but its price per share fell by 7% to $13.26. This was the busiest day for the stock. The company traded about 9.8 million shares.

Stocks of social media are also doing good. Global X Social Media Index ETF (SOCL) increased by 1.6%. Shares of Groupon (GRPN) increased by 8.7% and closed the trade day at $7.02. Facebook Inc (FB) saw an increase of 1.6% in the shares and closed at $73.51. Large numbers of traders will be leaving for vacation soon as the earnings season winds down a bit. As a result the stock market will most likely be quiet in the few weeks ahead. In the trading session on Monday, 5.6 billion shares were traded, which was lower than its average over the past five days of 6.2 million.

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