Stocks Headed for a Higher Finish

Stocks are headed for a higher finish in trading today. However, all three major indexes are off session highs. Earlier today, stocks rose sharply after China reported that its GDP grew more than forecast in the fourth quarter of 2011. Strong German economic data and slight improvements in euro zone’s troubled debt markets also lifted investors’ confidence.

At last check, the Dow Jones was trading 0.34% higher at 12,464.21, the S&P 500 was trading 0.21% higher at 1,291.80, and the Nasdaq was trading 0.47% higher at 2,723.28.

Energy stocks are leading the gains in the S&P 500 in late trading. At last check, Energy stock were trading 1% higher. Basic Materials stocks are also rising in trading today. At last check, Basic Materials stocks were trading 0.84% higher. Conglomerates are also up sharply in late trading. At last check, Conglomerates were trading 0.74% higher.

Check Point Software Technologies Ltd. (NASDAQ: CHKP) shares have been among the major gainers in trading today. Check Point Software shares are soaring in trading today after the company announced its fourth-quarter financial results. At last check, Check Point shares were trading 6.27% higher at $54.09.

Other major gainers in late trading today include Provident Energy Ltd. (NYSE: PVX), which is currently trading 21.80% higher at $11.34, Convio Inc. (NASDAQ: CNVO), which is currently trading 47.95% higher at $15.89, and Tesla Motors Inc. (NASDAQ: TSLA), which is currently trading 16.59% higher at $26.57.

Citigroup Inc. (NYSE: C) shares are sinking in trading today after the bank reported disappointing fourth-quarter financial results. Citigroup shares fell to an intra-day low of$28.22, and at last check, the stock was down 8.04% to $28.27.

Other major losers in late trading include Carnival Corporation (NYSE: CCL), which is currently trading 13.89% lower at $29.52, and R.R. Donnelley & Sons Company (NASDAQ: RRD), which is currently trading 15.89% lower at $12.12.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.