Stock indexes closed nicely higher after a very volatile session. Mega merger news combined with Middle Eastern tension and surging oil prices led to the wide swinging stock market. The DJIA closed up +81.58 to 11229.02, the Nasdaq climbed +22.96 to 2257.85 and the S&P 500 ended the session up +8.70 to 1253.39.
Lehman Brothers ( LEH | Quote | Chart | News | PowerRating) fell another 13.98% or $2.76 to $17.09 on continued credit fears and rumors of Pimco cutting off its trading with the troubled firm.
Rohm & Haas ( ROH | Quote | Chart | News | PowerRating) exploded up 64.78% or $29.04 to $73.88 on the announcement of its mega merger with Dow Chemical for over 18 billion USD.
Freddie Mac ( FRE | Quote | Chart | News | PowerRating) sank 21.05% or $2.16 to $8.10/share UBS downgraded it, and Federal Reserve President William Poole stated that the Mortgage-Finance concern may need to be bailed out by the Fed.
SunPower Corp. ( SPWR | Quote | Chart | News | PowerRating) soared 14.42% or $8.83 to $70.06/share after winning a government contract to build the largest solar power system in the United States.
Oil surged $5.16 to $141.21/barrel, gold jumped $13.40 to $942/oz and the United States Dollar fell against the Euro.
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