Inflation Smashed, Stocks Mostly Higher, Job Market Improves
Waves of bullish news guided stocks higher on the session. Inflation worries were smashed as unchanged consumer prices and expanding manufacturing data hit the wires. Rumors of increased interest rates were quickly dismissed as the inflation negating data reached nervous investors. Additional economic positive word of a decrease in jobless benefit filings added to the bullish sentiment. The DJIA made its 8th straight gain by climbing +45.50 to 10779.17, the Nasdaq added +2.19 to 2391.28 and the broad based S&P 500 slipped back by -0.39 to 1165.83
^DD^: Shares climbed 1.59% or 58 cents to $37.07 as the company said it expects an EPS increase of 20% yearly until 2012.
^ENR^: JP Morgan upgraded the battery maker to “overweight” sending shares higher by 3.39% or $2.05 to $62.53
^CAR^: A Barclay increase to “overweight” sent shares higher by 8.60% or 91 cents to 11.49.
^MDTH^: Shares surged 28.30% or $2.68 to $12.15 on the heels of an upgrade to “buy” at Deutsche Bank.
Oil fell 70 cents to $82.23, gold advanced $1.10 to $1125.50 and the VIX fear index dropped another 1.71% to 16.62.
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