Stocks Explode, Intel Strong, Production Improves

  • July 15, 2009
  • David Goodboy

Stocks exploded upwards today on a strong earnings report from Intel and improving production figures. Upbeat rhetoric from the FOMC minutes injected optimism into the market triggering the buying frenzy. The DJIA surged +256.72 to 8616.21, the tech heavy Nasdaq jumped higher by +63.17 to 1862.90 and the broad based S&P 500 pushed forward +26.84 to 932.68.

3Par
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Las Vegas Sands
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Goldman Sachs
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Intercontinental Exchange
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Oil climbed $2.02 to $61.76, Gold soared $16.60 to $939.40 and surprisingly the VIX index advanced 3.48% to 25.89.

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Market Snapshot

Dow

 +256.72 8616.21

NASDAQ

 +63.17 1862.90

S&P 500

 +26.84 932.68

Economic
News

Treasury Budget (Jun): Consensus: -$77.5B, Prior: $33.5B

Core PPI (Jun): Consensus: 0.1%, Prior: -0.1%

PPI (Jun): Consensus: 0.8%, Prior: 0.2%

Retail Sales (Jun): Consensus: 0.5%, Prior: 0.5%

Retail Sales ex-auto (Jun): Consensus: 0.5%, Prior: 0.5%

Business Inventories (May): Consensus: -1.0%, Prior: -1.1%

Core CPI (Jun): Consensus: 0.1%, Prior: 0.1%

CPI (Jun): Consensus: 0.6%, Prior: 0.1%

Empire Manufacturing (Jul): Consensus: -5.00, Prior: -9.41

Capacity Utilization (Jun): Consensus: 67.9%, Prior: 68.3%

Industrial Production (Jun): Consensus: -0.6%, Prior: -1.1%

Crude Inventories (07/10): Consensus: NA, Prior: -2.90M

Minutes of FOMC Meeting (06/24): Consensus: NA, Prior: NA

Initial Claims (07/11): Consensus: NA, Prior: 565K

Net Long-Term TIC Flows (May): Consensus: NA, Prior: $11.2B

Philadelphia Fed (Jul): Consensus: -5.0, Prior: -2.2

Building Permits (Jun): Consensus: 523K, Prior: 518K

Housing Starts (Jun): Consensus: 530K, Prior: 532K