Stocks Extend Gains in Late Trading

Stocks have extended their gains in late trading today, with all three major indexes near session highs. Stocks are rising on hopes that the International Monetary Fund (IMF) will boost its lending resources. The IMF has requested its member countries for an extra $500 billion for bailout loans.

Stocks have also been lifted by better than housing market released earlier in the day. At last check, the Dow Jones was trading 0.52% higher at 12,546.82, the S&P 500 was trading 0.91% higher at 1,305.41, and the Nasdaq was trading 1.35% higher at 2,764.93.

All sectors in the S&P 500 are currently in green. Technology stocks are continuing to lead the gains in the S&P 500 in late trading. At last check, Technology stocks were trading 1.43% higher. Basic Materials stocks have also risen sharply in trading today. At last check, Basic Materials stocks were trading 1.19% higher. Energy stocks are currently trading 1.18% higher.

Financials are currently trading 1.31% higher, with Goldman Sachs Group Inc. (NYSE: GS) leading the gains in the sector in late trading. Goldman Sachs shares have risen sharply in trading today after the bank reported fourth-quarter earnings that beat Street estimates. Goldman Sachs shares are currently trading 7.93% higher at $105.43.

Other major gainers in trading today are Sunoco Inc. (NYSE: SUN), which is currently trading 5.25% higher at $37.05, Amphenol Corporation (NYSE: APH), which is currently trading 9.55% higher at $52.88, and Yahoo! Inc. (NASDAQ: YHOO), which is currently trading 2.90% higher at $15.88.

Among the major losers in late trading today are State Street Corporation (NYSE: STT), which is currently trading 6.46% lower at $39.99, Bank of New York Mellon Corporation (NYSE: BK), which is currently trading 4.98% lower at $20.21, and PNC Financial Services (NYSE: PNC), which is currently trading 3.02% lower at $59.39.

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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.