Stocks shrugged off suggestions from the Fed of a pending future rate increase by surging higher on this first trading day of the month. Strong home sales surprised even the most bullish economist with a 3.7% monthly gain despite a falling U.S. dollar. Good news from China's manufacturing sector added to the optimistic tone of the day. The DJIA advanced +126.74 to 10471.58, the tech heavy Nasdaq marched higher by +31.21 to 2175.81 and the broad based S&P 500 powered ahead by +13.23 to 1108.86.
Staples ( SPLS | Quote | Chart | News | PowerRating): The giant office supply retail firm advanced 4.85% or $1.13 to $24.45/share after beating 3rd quarter estimates.
Boston Private Financial Holdings ( BPFH | Quote | Chart | News | PowerRating): Obtained an upgrade to "buy" at Suntrust Robinson, sending shares higher by 13.01% or 61 cents to $5.30.
American International Group ( AIG | Quote | Chart | News | PowerRating): Restructured $25 billion in Federal debt bringing in the bulls climbing 8.77% or $2.49 to $30.97/share.
Guess? ( GES | Quote | Chart | News | PowerRating): Added 12.96% or $4.80 to $41.85/share upon forecasting a 2010 profit beating estimates.
Gold advanced $17.90 to $1200.00, oil added $1.09 to $78.28 and the VIX index collapsed 10.40% to 21.96.
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