Call today a Bernanke-induced euphoria that rates will stay very low, even if the Fed has still hinted at an exit of the free and endless money supply. The trade deficit was narrower than expected and oddly enough, we are running a trade surplus if you don't consider China and foreign energy. Even the yield on the 10-Year auction came in at lower levels. Here were today's unofficial closing bell levels:Dow 9,361.61 +120.16 (1.30%)
S&P 500 1,005.81 +11.46 (1.15%)
Nasdaq 1,998.72 +28.99 (1.47%)
Top Analyst Calls
Citigroup Inc. (NYSE: C) rose on reports that its Chinese unit received regulatory approval to act as a bond market-maker on China's interbank bond market. Shares took back all of yesterday's losses as the stock was up over 7% at $3.96 late in the day.
JA Solar Holdings Co., Ltd. (NASDAQ: JASO) missed the rally today along with solar disappointments in earnings. The Chinese solar player said earnings were -$0.18 EPS vs. consensus of -$0.06, although that included some items. Revenue fell by over 50% to $88 million, although that is above the estimates of $77.6 million. This was down almost 15% at $4.47 ahead of the close.
YRC Worldwide, Inc. (NASDAQ: YRCW) was down big on an analyst downgrade. Stifel Nicolaus cut the rating to SELL and shares were down 11% at $2.04 ahead of the closing bell.
Nokia Corp. (NYSE: NOK) was looking better after reports that it and Microsoft have reached an agreement to make a mobile version of Microsoft's Office suite of software that will work normally on Nokia cellphones. A 1.5% gain to $13.27 might be disappointing on a day where the market was up so much.
Toll Brothers Inc. (NYSE: TOL) was the big winner in housing. The builder reported that its third-quarter home building revenues fell by over 40%, but the company also noted a 3% gain in new contracts to the first annual increase in roughly 4 years. Shares were up 14% at $23.43 ahead of the close.
Closing Bell: Economic Catapult for Thanksgiving & Black Friday (WMT, TGT, GRMN, GOOG, MSFT)
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