Back to 12,000:
- Stocks rallied for a third straight day, regaining the 12,000 level for the first time since March 11, before the Japanese earthquake that induced a treacherous tsunami and nuclear power plant damage. Energy stocks moved higher as oil prices rose on assumptions that fuel demand in Asia may not retreat as expected under a worst-case-scenario to the resolution at the nuclear plant. Investors also bid small-cap stocks proportionately higher in a full-on embrace of risk. Bond prices fell, with the 10-year Treasury note’s yield kicking higher to 3.32%. Gold was up big, silver up even bigger.
- After the closing bell, shares of Bristol-Myers (NYSE:) gained 4.8% after the company said that a Phase III study of its ipilimumab melanoma drug achieved its primary endpoint of improving overall survival. Canadian Pacific (NYSE:) shares fell 5.2% after the company said first-quarter earnings per share would be well below Wall Street estimates due to the impact of winter weather across the company’s entire rail supply chain. Hot Topic (NASDAQ:) rose 7.3% after the company announced Betsy McLaughlin resigned as CEO.
- On Tuesday, Walgreen (NYSE:) will release quarterly earnings in the a.m., while data on new home sales for February is part of the economic data flow. ConocoPhillips (NYSE:) will hold its annual investor meeting.
OUT THERE SOMEWHERE:
- Video: 86-year-old guru says is the safest currency.
- Your handy nuclear power location .
- As one might expect, becomes an issue in Japan.
- Your handy primer.
- Warren Buffett’s behind the times. Had you there for a .
- Your next.
- The future of.
- Early for market crashes.
- AT&T (NYSE:) buys T-Mobile, and .
- What up with Mike Dell huge amount of shares in his company?
