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Stocks Soar on ECB Bond-Buying Plans, Jobs Report Optimism

The benchmark 10-year Treasury dropped 25/32, raising the yield to 1.679%. The greenback fell 0.17%, according to the dollar index.

October crude oil futures settled up 17 cents at $95.53 a barrel and December gold futures surged $11.60 to settle at $1,705.60 an ounce.

On the corporate front, Amazon (AMZN - Get Report) shares rose 2.1% after the company unveiled its Kindle Paperwhite e-reader and an updated version of its Kindle Fire tablet.

Men's Wearhouse (MW) shares were jumped 18.7% after the specialty retailer of men's suits posted second-quarter earnings that beat estimates, and hiked its full-year outlook, as same-store sales increased at the company's namesake and Moores brands.

OCZ Technology (OCZ) saw its shares drop 19% after the disk-drive maker reported preliminary fiscal second-quarter sales that missed the company's estimates due to supply shortages.

VeriFone Systems (PAY) shares plunged 14% after the electronic payment solutions company reported fiscal third-quarter revenue that missed estimates, hurt by difficulties at the company's Brazilian operations.

Shares of Supervalu (SVU) added 3.5% after the company said it plans to close about 60 stores. The grocer said Wednesday it would shutter most of the "underperforming or non-strategic stores" before Dec. 1.

The company suspended its dividend in June and said it was reviewing its options with financial advisers, including a possible sale of the company.

Navistar International (NAV), the heavy truck and recreational vehicle maker, posted fiscal third-quarter earnings of $1.22 a share, with the period including an income tax benefit and costs tied to engineering integrations and non-conformance penalties. Revenue came in at $3.32 billion for the fiscal third quarter.

Analysts were expecting a loss of $1.36 a share on revenue of $2.96 billion. Shares popped more than 17%.

--Written by Andrea Tse in New York.

>To contact the writer of this article, click here: Andrea Tse.
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OCZ $0.00 0.00%
AMZN $669.69 1.60%
AAPL $92.18 -1.10%
FB $119.23 1.20%
GOOG $709.44 1.10%


Chart of I:DJI
DOW 17,686.22 +25.51 0.14%
S&P 500 2,050.14 -0.49 -0.02%
NASDAQ 4,710.2950 -6.7990 -0.14%

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