Stocks Rally, Credit Card Reform, Apple Surprises
Stocks staged a late day rally closing solidly in positive territory. Surprising positive earnings from Apple and several large banks counteracted worn out economic fears and lack luster data. President Obama pushed hard on behalf of the consumer to reform the traditional credit card company abuses. Fortunately, the CEO’s of these firms appeared to be open to his reform ideas. After trading in a lack luster way for most of the day, the DJIA surged ahead by +70.49 to 7957.06, the Nasdaq gained +6.09 to 1652.21 and the broad based S&P 500 advanced +8.37 to 851.92.
Apple
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Astoria Financial
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Marriot
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Royal Caribbean Cruises
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Oil added 0.82 cents to $49.67 and Gold advanced $14.10 to $906.60 and the fear index VIX declined 2.49% to 37.15.
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