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Strong, broad-based buying one day after the Fed unveiled plans for further quantitative easing sent stocks sharply higher, such that the three major equity averages set fresh 2-year highs. After the close ATVI, AGO, MLN, ATML, CBS, CF, CROX, FLR, HANS, KFT, N, SBUX, TK and TSO were the most notable names that reported.
U.S. stocks surged today,with the Dow industrials closing above where it stood just ahead of the collapse of Lehman Brothers, with investors around the globe embracing the Federal Reserve’s $600 billion plan to stoke the economy.
The greenback’s drop helped spur buying of dollar-denominated assets such as equities and commodities, with gold futures rallying and crude-oil futures topping $86 a barrel on the New York Mercantile Exchange.
All ten sectors were in positive territory, led by financials (+3.4%), materials (+3.3%) and energy (+3.0%).
Tomorrow morning before the open, two economic reports are scheduled to be released: 1) Nonfarm Payrolls (Consensus 60K) and Nonfarm Payrolls (Consensus 60K) and 2) Unemployment Rate (Consensus 9.6%), Hourly earnings (Consensus 0.1%) and Average workweek (Consensus 1.0%).
Tomorrow before the open of the many companies scheduled to report, some of the bigger names include: AIG, AMT, BWEN, BAM, DISH, XTEX, NVAX, SOL, and YRCW.
The p&l has been updated, see you the morning.