Stock Market Watch

Stocks Headed for a Strong Finish as Investors Cheer Bank Liquidity Move

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Stocks are headed for one of their strongest finishes in months after top central banks, including the Federal Reserve, announced that they will take coordinated action to boost liquidity in the financial system. Stocks have also been pushed higher by a better than expected ADP jobs report and a surprise move from China to cut the bank reserve requirements.

All three major indexes are trading near session highs. At last check, the Dow Jones was trading 3.67% higher at 11,979.23, the S&P 500 was trading 3.68% higher at 1,239.17, and the Nasdaq was trading 3.44% higher at 2,601.93.


All sectors in the S&P 500 are sharply higher in trading today. Basic Materials stocks are leading the gains in the S&P 500 in late trading. At last check, Basic Materials stocks were trading 5.22% higher. Among the major gainers in the Basic Materials sector in late trading are Freeport-McMoRan Copper & Gold Inc.(NYSE: FCX), which is currently trading 7.70% higher at $39.29, United States Steel Corporation (NYSE: X), which is currently trading 15% higher at $27.22, BHP Billiton Limited (ADR) (NYSE: BHP), which is currently trading 7.26% higher at $74.73, and Potash Corporation (NYSE: POT), which is currently trading 1.56% higher at $43.05.

Other major gainers in late trading include The Fresh Market Inc. (NASDAQ: TFM), which is currently trading 5.59% higher at $38.71, Advanced Analogic Technologies Inc. (NASDAQ: AATI), which is currently trading 32.49% higher at $5.75, Sotheby’s (NYSE: BID), which is currently trading 15.96% higher at $31.10 and Forest Oil Corporation (NYSE: FST), which is currently trading 13.92% higher at $16.04.

Among the major losers in late trading today are Netflix Inc. (NASDAQ: NFLX), which is currently trading 5.31% lower at $63.98, Jos. A. Bank Clothiers Inc. (NASDAQ: JOSB), which is currently trading 5.63% lower at $48.29, and Watson Pharmaceuticals Inc. (NYSE: WPI), which is currently trading 3.63% lower at $64.85.

 

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edliston
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.


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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.

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