The broad markets rebounded nicely after the extended weekend, with optimism reigning over Greece and China. Although the news from overseas is welcomed, it's sure to change again, as the same issues have been the main catalysts for the volatility we've experienced recently. We'll have to wait and see what tomorrow brings, but today all three major indices finished above 1%, with the Dow Jones Industrials
The materials and technology sectors advanced the markets today, as China is expected to increase stimulus measures to boost growth. Chinese bankers announced that lending will be expanded to increase purchases as well as boost manufacturing and build out infrastructure.
Good news also came from Greece, where polls show the New Democracy party ahead of the anti-bailout party for the election being held on June 17. Elsewhere, though, the price of oil, after rallying by 1.5% midday, closed in the red over Spanish credit worries. ExxonMobil dropped with the price of oil as the energy giant, split 50/50 between oil and gas production, is already taking a hit from extremely low natural gas prices. However, the tightly run behemoth has an excellent balance sheet and vast reserves in a diverse geographic network that will allow it to withstand the worst of oil price cyclicality.
Another Dow component that finished the day in the red is McDonald's
The main storyline for today was the spanking that some big-name Internet information providers suffered. The main culprit was Facebook
With Facebook trading off by close to 25% from its IPO price, it faces a tall task to regain the momentum it had before it went public. The Internet giant has perhaps the best name recognition out there, but it will need to find revenue drivers to effectively use its strong branding. Right now there is a clear winner among the recent technology IPO releases, and this company is smashing its competitors with an array of hidden weapons. Read this free report to find everything you will need to know about this fantastic company and why it's outperforming its competitors.
Joel South owns shares of no company listed above. The Motley Fool owns shares of Facebook. Motley Fool newsletter services have recommended buying shares of McDonald's. 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.