Stocks Rage Higher, Confidence Up, US Dollar Falls
A falling U.S. dollar, climbing commodity prices and improved Consumer Confidence lifted stocks on the first session of the shortened week. Good news from the Eurozone and improved word from Greece added to the stock market enthusiasm. The DJIA, led by Boeing and Caterpillar, advanced +45.50 to 10895.86, the Nasdaq climbed +9.23 to 2404.36 and the broad based S&P 500 pushed higher +6.63 to 1173.22.
^CBG^: In a show of confidence, Goldman Sachs upgraded the commercial real estate broker to “buy” sending shares higher by 6.89% or $1.03 to $15.98.
Kid Brands Inc ^KID^: Shares soared 21.21% or $1.40 to $8.00 after the company earned 61 cents/share compared to a $5.14 loss one year ago.
^BA^: Good word about the 787 Dreamliner stress tests lifted shares 2.09% or $1.52 to $74.11.
^MEE^: Climbed 7% or $3.55 to $54.27/share on speculation that the Chinese drought will increase the need for electricity from coal.
Oil climbed sharply $2.50^ to $82.50, gold advanced $6.60 to $1111.70 and the VIX index 1.01% to 17.59.
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