Strong Chinese Data, Stocks at Yearly High, Dollar Strengthens
Word of Chinese factory data hitting a 19-month high spurred stocks to a positive close on the day. In addition, momentum from the Fed’s economically positive words yesterday carried through into this session despite a stronger dollar. The DJIA closed up +44.29 to 10291.26, the tech-heavy Nasdaq added +15.82 to 2166.90, and the broad based S&P 500 climbed +5.56 to 1098.51.
Toll Brothers
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PowerRating): Mc Mansion specialist builder advanced 16.42% or $3.02 to $21.41/share after stating its revenue will sharply beat estimates.
Macys
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PowerRating): The retailer gave a pessimistic sales forecast sending shares lower by 8.08% or $1.57 to $17.86.
GameStop Inc
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PowerRating): Fell 2.98% or $0.75 to $24.43/share after being removed from Goldman’s conviction buy list.
Sigma Designs
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PowerRating): Dropped 9.72% or $1.20 to $11.14/share upon being downgraded to hold at Collins Stewart.
Gold hit another all-time high climbing $12.10 to $1114.60, oil advanced $0.18 to $79.23 and the VIX advanced .88% to 23.04.
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