10,000 Target Surpassed, Earnings Solid, Retail Beats
Traders celebrated the Dow Jones breaking above 10,000 today for the first time in a year. Driven by better than expected retail sales figures and solid earnings from several big names, stocks powered higher closing above the psychological barrier. A troubled employment situation and dismal housing market fears were placed on the back burner as the bulls stampeded once again. The DJIA closed up +144.80 to 10015.86, the tech heavy Nasdaq added +32.34 to 2172.23 and the broad based S&P 500 surged higher by +18.83 to 1092.02.
Tata Motors
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PowerRating): Increased production of the Nano, the world’s cheapest car, by 20% pushing shares higher by 6.41% or 77 cents to $12.78.
Siemens AG
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JP Morgan Chase
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PowerRating): Crushed analysts profit estimates by 61% sending shares higher by 3.29% or $1.50 to $47.16/share.
Harley Davidson
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PowerRating): The American biker icon was upgraded to “outperform” at Wells Fargo sending shares higher by 6.57% or $1.62 to $26.29.
Oil added $1.03 to $75.42, gold gave back 30 cents to $1065.00 and the VIX fear index fell 0.57% to 22.86.
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