Robert Holmes
Energy and commodity prices rebounded after falling hard last time. Oil prices dropped $2.33 during the previous session, but finished up 98 cents to close at $71.98 a barrel. Gold futures gained $8.80 to $666.80 an ounce, and silver was higher by 30 cents to $11.80 an ounce.
Among equity names, Countrywide (CFC Quote - Cramer on CFC - Stock Picks) was again making headlines. The stock tumbled earlier this week on worries about its health and its need to tap an $11.5 billion credit line. However, Banc of America Securities upgraded Countrywide to neutral from sell, saying it believes that the decision to access credit should help the company weather the subprime storm. Shares rallied $2.48, or 13.1%, to $21.43. Hewlett-Packard (HPQ Quote - Cramer on HPQ - Stock Picks) was also in focus after the tech giant posted fiscal third-quarter earnings following the previous close that beat Wall Street's estimates. H-P also raised fiscal fourth-quarter earnings and sales guidance, and the stock ended up $1.10, or 2.4%, to $47.15.
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