Roller Coaster Intensity, ISM Positive Surprise, Fabulous Ford
Stocks experienced wide swings in an intense roller coaster like session. ISM figures beating estimates and Ford posting nice profits sent stocks up strongly at the open. News of the Federal Reserve warning that more defaults are likely sent the financial shares sharply negative with the rest of the market following suit. Positive home sales data then acted to lift stocks into a positive close on the session. The DJIA advanced +76.71 to 9789.44, the Nasdaq climbed +4.09 to 2049.20 and the S&P 500 added +6.69 to 1042.88.
Ford
(
F |
Quote |
Chart |
News |
PowerRating): Experienced the largest gain in the S&P 500 after posting a fabulous and surprising income gain of $997 million for the third quarter sending shares higher by 7.70% or 53 cents to $7.54.
Citigroup
(
C |
Quote |
Chart |
News |
PowerRating): Dropped 3.42% or 14 cents to $3.95/share along with the rest of the financial sector on word from the Federal Reserve that high default risks still exist.
Research in Motion
(
RIMM |
Quote |
Chart |
News |
PowerRating): Fell 5.69% or $3.36 to $55.40/share after being cut by Citigroup to “sell”.
GTX Inc
(
GTXI |
Quote |
Chart |
News |
PowerRating): Did not obtain U.S. approval for its drug, sending shares tumbling 47.88% or $4.30 to $4.68.
Oil advanced $1.13 to $78.14, gold climbed $13.60 to $1054.00 and the VIX fear index fell 2.61% to 29.89.
Market Snapshot | |||||||||||||||
|
Economic News |
|||
|