Bulls Rule, Home Sales Climb, Ford Astounds
The bulls ruled the stock market on Tuesday with shares surging higher across the board. A 1% jump in pending home sales lifted the sagging home builder sector. While Ford Motor Company announced an astounding 24% sales increase in January. Word of the Fed interfering in Bank’s trading operations and unemployment climbing in many urban areas did little to stem the bullish tide. The DJIA advanced +111.32 to 10296.85, the Nasdaq pushed higher by +18.86 to 2190.06 and the S&P 500 climbed +14.13 to 1103.31.
^AXP^: Advanced 2.12% or 81 cents to $39.02/share when Bank of America upgraded the Credit card sector to “buy”.
^DHI^: Surged 10.92% or $1.30 to $13.21/share on the positive home sales report.
^GE^: Led the DJIA higher today climbing 3.69% or 60 cents to $16.85/share after its F-35 fighter back-up engine was excluded from potential Pentagon budget cuts.
^TUP^: Climbed 6.94% or $3.01 to $46.39/share after stating its 2010 adjusted EPS will beat analyst’s estimates.
Gold added $13.20 to $1118.00, oil advanced $2.92 to $77.35 and the VIX fear index gave back another 4.91% to 21.48.
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