Markets were up across the board this afternoon as corporate earnings continue to fuel a broader resurgence. Initial claims came in flat, slightly worse than expected, but a jump in home sales and Ben Bernanke's comments reassuring investors that the Federal Reserve would act to halt any backsliding from the broader economy allayed fears.
With that in mind, let's take a closer look at how the major indexes fared and drill down on a few stocks driving today's action.
Index |
Gain / Loss |
Gain / Loss % |
Ending Value |
---|---|---|---|
Dow Jones Industrial Average |
121.28 | 0.93% | 13,212.00 |
Nasdaq | 24.16 | 0.80% | 3,053.79 |
S&P 500 | 9.89 | 0.71% | 1,400.58 |
Source: Yahoo! Finance.
The Dow is showing its third straight day of over half a percent gains and is leading the other two indexes. But only one Dow component released earnings today, and its poor quarterly showing led to a 1% drop. That was enough to make ExxonMobil
We had some interesting boardroom drama today at Chesapeake Energy
Meanwhile, Chesapeake is going to take a second look at the program that allows CEO Aubrey McClendon to take a stake in the company's wells. It was designed to align interests, but investors became alarmed when it was discovered McClendon personally borrowed roughly $1 billion based on those assets. Nothing may come of it, but it at least shows the board isn't tone-deaf to broader concerns.
Finally, small-cap biotech Amarin
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