6th Straight Stocks Gain, Earnings Strong, Bernanke Shaky
The stock market erased earlier losses climbing still higher on earnings strength and general market momentum. Research has indicated that 77% of the reporting companies on the S&P 500 have beat earnings estimates this period. Bernanke appeared a little shaky during his testimony stating that the markets are still stressed and the deficit poses a serious threat. Despite Bernanke’s nervousness, stocks closed higher with the DJIA adding another +67.79 to 8915.94, the tech heavy Nasdaq advanced +6.91 to 1916.20 and the broad based S&P 500 climbed +3.45 to 954.58.
Southwest Airlines
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PowerRating) – The innovative low cost leader gave over 1000 employees buy out packages sending shares lower by 5.89% or 43 cents to $6.88.
Legg Mason
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TD Ameritrade
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Merck
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Oil climbed 74 cents to $64.72, Gold gave back 1.90 cents to 946.90 and the VIX fear index fell 2.17% to 23.87.
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