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.
Gain / Loss
Gain / Loss %
Dow Jones Industrial Average
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
Get ready for more earnings-season surprises
More earnings are on their way, so make sure you know what's happening. The Motley Fool's latest special report tells you what you need to know about five stocks you must watch this earnings season. Please accept my invitation to read the report for free -- but be sure to act now, before these companies report.
David Williamson owns shares of Amarin, but he holds no other position in any company mentioned. Check out his holdings and a short bio. Motley Fool newsletter services have recommended buying shares of Chesapeake Energy, ExxonMobil, and GlaxoSmithKline. The Motley Fool has a disclosure policy. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.