A banner day for the stock market bulls! A better than expected GDP report, revealing that the economy has grown for the first time in a year, triggered broad based buying on Wall Street. In turn the U.S. Dollar reprised its winning ways, gaining solid ground against the Euro. However, quarter century high unemployment and credit concerns still weigh on the market. The DJIA soared +199.89 to 9962.58, the tech heavy Nasdaq added +37.94 to 2097.55 and the broad based S&P 500 jumped higher by +23.48 to 1066.11.
XL Capital ( XL | Quote | Chart | News | PowerRating): Posted third quarter profit numbers that beat the street, sending shares higher by 7.02% or $1.14 to $17.37 for the Bermuda based insurer.
Alcoa ( AA | Quote | Chart | News | PowerRating): The aluminum maker is in talks with a Chinese aircraft company to provide material for new jets. The stock flew higher by 8.97% or $1.07 to $13.00/share on the news.
Luxottica Group ( LUX | Quote | Chart | News | PowerRating): The eyeglasses kingpin announced a stock buy back plan sending shares higher by 5.65% or $1.37 to $25.60.
Office Depot ( ODP | Quote | Chart | News | PowerRating): Advanced 9.14% or 54 cents to $6.45/share after revealing third quarter losses were not as severe as predicted.
Oil added $2.41 to $79.97, gold surged $16.60 to 1047.10 and the VIX fear index fell hard by 11.29% to 24.76.
| Market Snapshot | |||||||||||||||
|
| Economic News | |||
|
