This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dow Watch: GM, Banks Lead the Advance

Updated from 2:47 p.m. EST

Nice Gains for a Change

(At 5:19 p.m. EST)

Not sure how much follow through we'll get tomorrow, but Tuesday's run-up in the market certainly was a relief from the almost daily pessimism and gloom about stocks we've gotten used to.

The Dow Jones Industrial Average rose 236.16 points, or 3.3%, to 7350.94 after Fed Chairman Ben Bernanke cheered traders with his vision that 2010 could be the year we'll begin the recovery.

I like the sound of this. Assuming the government can get things turned around by propping up a few badly distressed companies, we'll be back in form next year.

Just 10 more months and then we'll be creating jobs, buying new homes and cars, filling the malls, getting more credit cards. Right? In all seriousness, let's hope he's on to something and that tonight President Obama will add some encouraging comments about getting the economy out of this mess.

Since I don't want to be too cynical, I'll focus on the positives. The Dow broke a three-day string of losses and had its best point gain and percentage increase since Jan. 21. The move higher cut the index's decline for the month to 8.1% and pared its decrease for the year to 16.2%.

Microsoft (MSFT - Get Report) was the only loser of the 30 Dow stocks, and it fell just 4 cents to $17.17. The winners were paced by Bank of America (BAC - Get Report), Citigroup (C - Get Report) and GM (GM - Get Report), all of which soared more than 20%, led by a 25.4% surge in the automaker.

Other big gainers were American Express (AXP), up 12.1%, and Alcoa (AA) and Home Depot (HD - Get Report), better by 10% each. And with that, good night.
1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BAC $17.03 0.00%
C $55.37 0.00%
HD $111.49 0.00%
GM $33.23 0.00%
GE $26.78 0.00%

Markets

DOW 17,730.11 -27.80 -0.16%
S&P 500 2,076.78 -0.64 -0.03%
NASDAQ 5,009.2140 -3.9090 -0.08%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs