Gold Gets Smacked, Stocks Climb, and Oil Dips Again
Gold Smacked, Stocks Climb, Oil Dips Again
Gold lost over $35.00 and oil continued its slide helping the stock market close higher despite substantial woes in the financial sector.
The DJIA closed up +45.92 to 11780.24, the Nasdaq added +25.85 to 2439.95 and the S&P 500 rose +8.97 to 1305.30.
Amazon
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PowerRating) – The world’s largest Internet retail seller climbed 9.37% or $7.54 to $88.05/share on positive Citigroup analysts statements on greater Kindle sales.
Fannie Mae
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PowerRating) led the S&P 500 in losses today as the mortgage concern fell 7.62% or $0.69 to $8.36/share on the tightening of loan approval standards by US banks.
Petrohawk Energy
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PowerRating) gave back 10.40% or $3.08 to $26.53/share after announcing a new issuance of 25 million shares to repay debt.
UAL Corp.
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PowerRating) climbed 10.24% or $1.14 to $12.27/share due to speculation that lower oil prices will result in 2009 profits.
Gold fell another $35.10 to $829.70/oz, oil gave back $0.44 to 114.76 and the VIX 2.61% to 20.12.
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