Closing Bell: Stocks Open Strong, Stay There (LZR, PDE, YONG, CCME, OREX)

Filed under: S and P 500, DJIA, NASDAQ

Two multi-billion dollar acquisitions boosted the market open this morning, as did Thomson Reuters data that 72% of S&P 500 companies that have reported earnings results so far have posted better than expected profits. Investment bank UBS also raised its target for the S&P 500 index from 1,325 to 1,425. The rise in equities has cooled crude oil prices, now down below $88/barrel. Gold is also down slightly on the strength of the equity market. In the currency markets, softness in the German manufacturing sector has sent the euro lower against the dollar.



Here are the numbers for late afternoon trading today:



Dow Jones 12,161.55 +69.40 (0.57%)

S&P 500 1,319.04 +8.17 (0.62%)

Nasdaq 2,783.99 +14.69 (0.53%)

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Closing Bell: Stocks Open Strong, Stay There (LZR, PDE, YONG, CCME, OREX) originally appeared on BloggingStocks on Mon, 07 Feb 2011 16:00:00 EST. Please see our terms for use of feeds.

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