Stocks Roar Alive, American Express Optimistic, Microsoft Surprises
Wow, what an ending to a chaotic week. Stocks roared alive when news of the “stress test” applied to banks didn’t reveal any nasty surprises. In addition, earnings from Ford and American Express stating it plans to repay the government bailout funds launched a strong rally across the board. Crude Oil advanced as the active economy stimulated the commodity complex. The DJIA soared +119.23 to 8076.29 breaking the 8000 technical resistance level, the Nasdaq climbed +42.08 to 1694.29 and the broad based S&P 500 added +14.31 to 866.23.
Microsoft
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American Express
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Ford
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Lennar Corp
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Oil gained $1.97 to $51.58, Gold climbed $7.50 to $914.10 and the VIX fear index fell by 0.89% to 36.82.
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