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Stock Market Recap: General Motors, Citigroup

By Dave Goodboy | TradingMarkets.com
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Stocks closed up across the board with the DJIA climbing +52.43 points, the S&P 500 moving up +5.11 points and the NASDAQ adding +12.75 points.

Commodity producers lead the rally in S&P 500.

Freeport-McMoran (FCX | Quote | Chart | News | PowerRating) - The gold and precious metals exploratory firm added 3.48% to 117.84 leading the S&P higher from yesterdays sell off.

Crocs Inc (CROX | Quote | Chart | News | PowerRating) rocketed up 12.34% to 11.20 after forecast beats analysts estimates; despite a first quarter net loss of 4.5 million.

General Motors (GM | Quote | Chart | News | PowerRating) agreed to provide 200 million to end strike at American Axle AXL, a key supplier.  GM shares dropped 1.26% to 21.13 on the news.

Citigroup (C | Quote | Chart | News | PowerRating) - CEO Vikram Pandit may disclose plans and profit targets in an attempt to calm investors and return the financial concern to profitability.  C dipped .73% to 24.30 on the news.

Oil continues to climb on supply rumors and Gold moved up 10.90 to 882 today.

Market Snapshot

Dow

+52.43 12,866.78

NASDAQ

+12.75 2,451.23

S&P 500

+5.11 1,397.68

Economic News

ISM Services (Apr): Actual 52.0, Consensus 49.1

Productivity Prel (Q1): Consensus 49.1%, Prior 49.6%

Pending Home Sales (Mar): Consensus -1.0%, Prior -1.9%

Crude Inventories (05/03): Consensus N/A, Prior 3848K

Consumer Credit (Mar): Consensus 6.0B, Prior 5.2B

Initial Claims (05/03): Consensus 375K, Prior 380K

Wholesale Inventories (Mar): Consensus 0.5%, Prior 1.1%

Trade Balance (Mar): Consensus -$61.3B, Prior -$62.3B


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