Today was a tough day to call ahead of time despite the notion that the stocks were getting oversold. Washington D.C was closed and New York City is getting close to closing many services Wednesday because of yet another huge snow dump. The larger second wave of the rally today was based entirely on the leaks, rumors, and hopes of a Greece bailout either by Germany or by the E.U. in some form or fashion. Here were today's unofficial closing bell levels:
Dow 10,058.64 +150.25 (1.52%)
S&P 500 1,070.52 +13.78 (1.30%)
Nasdaq 2,150.87 +24.82 (1.17%)
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National Bank of Greece SA (NBG) set a multi-year volume record as this is now the trader proxy for trading the direction of the financial wind in Greece. Shares were up 24% at $4.25 right before the closing bell.
Sequenom, Inc. (SQNM) licensed the worldwide rights to develop age-related macular degeneration diagnostic test to Optherion and is expected to launch in 2011. Shares were up almost 2% at $4.20 right before the close.
The Procter & Gamble Company (PG) was up 1.5% before the close at $61.90. Dennis Gartman noted this as a safety-net stock when he was predicting his big market correction coming last night.
Electronic Arts, Inc. (ERTS) was weak all day after its earnings from last night were mostly in line with estimates but the company lowered guidance all the way out to Fiscal March-2011. Shares were down 9% at $15.94 very late in the trading day.
The Coca-Cola Company (KO) was up almost 3% right before the close at $54.23. The company mostly met expectations but it posted 5% global case unit volume growth, which was impressive considering that North America was down 1%.
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