Today's inflation report was the main reason for the rally as it looks like prices nominally are not getting much worse. But
as I noted, that's true if you don't go to the gas station or grocery store. Home foreclosures rose yet again, and that may be something to get used to. Oil prices were down down $1.86 to $123.94 per barrel in after-hours trading. Here are the unofficial closing index levels:
- DJIA 12,890.64 (+58.46; +0.46%)
- S&P500 1,407.87 (+4.83; +0.34%)
- NASDAQ 2,495.66 (+0.54; +0.02%)
- 10YR-TBond 3.938% (+0.029)
- 52-WEEK LOWS
- 10 ANALYST CALLS
China Architectural Engineering, Inc. (AMEX:
RCH) saw another massive rise today based upon the Chinese earthquake. Shares were up 40% at $8.38 at the end of the day. Architecture, engineering, China, earthquake... what more did traders need to hear?
Deere & Co. (NYSE:
DE) saw a sharp drop in shares after reporting earnings, and it
pulled down other ag-stocks. The company said it was being impacted by tight part supplies and rising materials costs, and that sent shares tumbling 10% to $81.10 in the final minutes today.