AOL Money & Finance

Closing Bell: Bulls finally win on lower fuel and better earnings

More

Today was a clear win for the bulls, although the bears aren't forgotten by any measure. Oil fell another $4.00 today and to around $134/barrel. The CPI report also came in less timid than some PPI watchers were expecting, although it is still very high. Today's rally is probably more attributable to pricing action in banking and transportation stocks. Even the stodgy FOMC minutes didn't hurt today.

Below are the unofficial closing bell levels for index levels today:

DJIA 11240.02 (+277.48)
S&P500 1244.98 (+30.07)
NASDAQ 2284.85 (+69.14)
10YR T-Note 3.934 (+0.09%)
52-Week Lows
Top Analyst Upgrades
Top Analyst Downgrades

Airline earnings came out very cautiously but not as bad as many would have guessed and didn't have the ring of any immediate death sentences for the industry. AMR Corp. (NYSE: AMR), the parent of American Airlines, managed to post better than expected gains before items even if its losses were near $1 billion. Its shares were up over 33% at $5.90 in today's final minutes. This may have actually been the best day ever for major airline stocks.


Chicago Bridge & Iron (NYSE: CBI) was one of the big losers after warning that issues in the U.K. were going to chop off earnings estimates. Its shares were down over 16% at $30.53 in today's final minutes.

Intel Corp. (NASDAQ: INTC) managed to hold on to gains today after it beat earnings expectations, despite some signaling of prudent caution here. Shares were up 0.7% at $20.85 in today's final minutes.

Wells Fargo & Co. (NYSE: WFC) actually came out with much better than expected earnings, and even raised its dividend. Shares were up a sharp 32% at $27.11 in today's final minutes. This report lifted most financials with waves of short covering and waves of traders hoping to catch the bottom.
Symbol Lookup
IndexesChangePrice
DJIA-93.7910,197.47
NASDAQ-17.882,149.02
S&P 500-11.271,087.24

Last updated: November 12, 2009: 09:17 PM

BloggingStocks Exclusives

Hot Stocks

DailyFinance Headlines

Latest from BloggingBuyouts

TheFlyOnTheWall.com Headlines

BioHealth Investor Headlines

WalletPop Headlines

My Portfolios

Track your stocks here!

Find out why more people track their portfolios on AOL Money & Finance then anywhere else.

BloggingStocks Partners

More from AOL Money & Finance

WalletPop Headlines