Stocks Fight Higher, Credit Surprises, Job Data Mixed
After a brutal start to the session, shares fought back closing higher on the day. Mixed and uncertain data from the job front led the early decline as the DJIA dipped sharply below the technically critical 10,000 level. Bullish news soon entered the fray with the consumer credit figure falling less than forecast. An unexpected increase in manufacturing payroll number spurred the bulls higher. In addition, optimistic international word from Greece helped the late day rally. The DJIA advanced +10.05 to 10012.23, the Nasdaq fought higher by +15.69 to 2141.12 and the S&P 500 climbed +3.08 to 1066.19.
Nordstrom Inc ^JWN^: Dropped 3.33% or $1.17 to $33.94/share after being cut to “neutral” at Goldman Sachs.
Tyson Foods ^TSN^: Beat analysts estimates sending shares higher by 4.72% or 66 cents to $14.65.
Corning ^GLW^: Dropped 1.10% or 20 cents to $18.05/share despite reassuring investors it expects an over 20% increase in its glass business due to consumers buying more flat-screen televisions and computers.
Airgas ^ARG^: Surged 40.04% or $17.43 to $60.96/share after another firm said it was ready to take its bid directly to the shareholders.
Oil gave back another $1.27 to $71.87, gold decreased $9.50 to $1054.00, and the VIX added 0.12% to 26.11.
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