Stocks Deliver Election Day Rally
Gold for December delivery rose $31.80 to settle at $1,715 an ounce at the Comex division of the New York Mercantile Exchange, while December crude oil contracts settled up $3.06 at $88.71 a barrel.
The benchmark 10-year Treasury fell 18/32, pushing the yield up to 1.753%. The dollar was down 0.15%, according to the U.S. dollar index.
In corporate news, shares of Marsh & McLennan (MMC) rose 2% after the company posted better-than-expected third-quarter earnings, thanks to strength in its insurance and consulting businesses.
Fertilizer producer CF Industries (CF) topped Wall Street's consensus view in its latest quarter as profit margins improved. The company also forecast a positive operating environment for the remainder of 2012 and into 2013 amid expectations of high 2013 corn plantings, strong domestic fertilizer demand and favorable natural gas costs. The stock tacked on less than 1%.Fossil (FOSL) shares sank 10.5% after the fashion accessories company missed third-quarter top line expectations and cut its current-quarter sales growth guidance amid softness at its European wholesale business. Shares of weight loss products provider Medifast (MED) gained 8.5% after the company booked higher-than-expected third-quarter results and full-year guidance. Shares of AOL (AOL) popped 22% after the Web content company booked stronger-than-anticipated third-quarter earnings, helped by the most robust growth in advertising in seven years. Express Scripts (ESRX) shares plunged 12.3% after the pharmacy benefit manager reported Monday a 20% increase in third-quarter profit but warned that 2013 could bring a weaker business climate. Zillow (Z) , the real estate information company, on Monday gave a soft revenue outlook for the final quarter of 2012. The stock lost 18%. Shares of NYSE Euronext (NYX) fell more than 5% after the company reported a 21% drop in third-quarter revenue declined to $559 million amid weaker trading in the U.S. and Europe. Net income fell 42% year-over-year. -- Written by Andrea Tse and Joe Deaux in New York.
>To contact the writer of this article, click here: Andrea Tse. Follow @Commodity_Bull
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