11,000 In Sight, Chevron Optimistic, Wholesale Inventories Bullish
Stocks surged higher today bringing the psychologically critical figure of the DJIA’s 11,000 back into easy striking distance. Energy shares led the advance triggered by an upbeat forecast from sector leader, Chevron. Bullish numbers from the Wholesale Inventories added to the stock positive session. The DJIA advanced +70.28 to 10997.35, the tech heavy Nasdaq climbed +17.24 to 2454.05 and the broad based S&P 500 marched higher by +7.94 to 1194.37.
^AA^: On the eve of its earnings report Monday, the aluminum maker was downgraded to “neutral” at JP Morgan Chase sending shares lower by 3.36% or 50 cents to $14.37.
^CASY^: A Canadian firm filed a proposal to acquire all the shares sending the stock higher by 23.77% or $7.51 to $39.10.
^CEDC^: Agreed to sell its Polish distribution business to Eurocash plc sending shares higher by 7.14% or $2.57 to $38.56.
^BTH^: The candle maker surged 45.15% or $14.62 to $47.00 upon beating analysts estimates.
Oil fell 46 cents to $84.93, gold added $8.70 to $1162.50 and the VIX fear index dropped by 2.06% to 16.14.
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