Stimulus Settled, Oil Collapses, Stocks Rebound
An agreement was reached today on the much ballyhooed stimulus plan. Stocks breathed a sigh of relief that this step in the economic recovery is over, closing higher on the day. An increase in crude oil inventories combined with lessening demand collapsed the price to below $36.00/barrel intraday. The DJIA added +50.65 to 7939.53, the Nasdaq climbed +5.77 to 1530.50 and the broad based S&P 500 jumped +6.58 to 833.74.
Atmel Corp
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PowerRating) – Fell 2.44% or 0.09 cents to $3.60/share after a buyout offer for the company was withdrawn.
Dean Foods
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ProLogis
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XL Capital
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Oil fell $1.61 to $36.02, Gold added $30.30 to $944.50 and the VIX fear index 4.59% to 44.53.
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