Stocks Rally, Citigroup Positive, Health Care Stymied
A gentle rally lifted shares higher on positive words from Citigroup and a stymied health care reform bill. Citigroup advised that its profits could approach $20 billion in the near future triggering buying in the banking sector. Health care stocks advanced due to the extreme difficulty in instituting Obama’s health care reform measures. Overall, a very positive day on the Street of Dreams. The DJIA climbed +44.51 to 10611.84, the tech heavy Nasdaq advanced +9.51 to 2368.46 and the broad based S&P 500 eased higher by +4.63 to 1150.24.
^TXN^: Fell 2.11% or 52 cents to $24.07/share as the chip makers were hit with some negative press from JP Morgan.
^DPS^: Advanced 4.10% or $1.38 to $35.03/share on an upgrade to “buy” at UBS AG.
^GME^: Led the S&P 500 higher on rumors of a takeover bid advancing 5.85% or $1.07 to $19.35/share.
^GYMB^: The tiny tykes gym and clothing purveyor climbed 11% or $5.09 to $51.38/share upon beating analysts earning estimates by 1 cent.
Oil climbed 19 cents to $82.28, gold added 90 cents to 1109.00 and the VIX index gave back 2.75% to 18.06.
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