Stocks Rocket, Confidence Surges, Home Prices Fall
The stock market surged higher today on exploding higher Consumer Confidence figures despite a record drop in home prices and bad news from the auto sector. Home prices dropped over 19% in the first quarter, a new record decline. Auto maker, General Motors, moved closer to bankruptcy as bondholders failed to accept a debt for equity swap. The DJIA closed near the highs up +196.17 to 8473.49, the Nasdaq surged +58.42 to 1750.43 and the S&P 500 advanced +23.33 to 910.33.
Apple
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General Motors
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Palm
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First Solar
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Oil climbed 0.78 cents to $62.41, Gold fell $5.60 to $953.30 and the fear index VIX fell 6.16% to 30.62.
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