Stocks Soar, Gold Plummets, Ford and GM Sales Slump
The major indices exploded upward today, led by technology and bank shares. A stronger dollar weighed on oil and gold as the commodities pulled back off their highs. U.S. automakers continue to struggle, with Ford, GM and Chrysler posting much lower sales in April.
The Dow finished up +189.87 points, the S&P 500 climbed +23.75 points and the NASDAQ soared +67.91 points.
Exxon Mobil
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PowerRating) announced first quarter profits of $10.9 billion but still fell short of analyst expectations causing a pull back in the stock.
Bank of America
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PowerRating) joined with other leading financial companies leading financial stocks to their highest levels since February.
Comcast
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PowerRating) rallied 1.78 points on the back of increased subscribers for its internet concerns.
Symantec
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PowerRating) climbed to its highest levels in 5-years to 19.34 after announcing a tripling of 4th quarter profits.
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