Stocks Explode Higher (Again), Here's What You Need To Know

DJIA: Up 122 points to 11,167.

NASDAQ: Up 40 points to 2511.

S&P 500
: Up 15 points to 1206.

Oil: Up 2.5% or $2.07 to $85.29 a barrel.
Gold: Down 0.3% or $4.20 to $1167.60 an ounce.
Silver: Down 2.1% or $0.38 to $18.52 an ounce.

Now here’s what you need to know as you leave work today:

  • Dendreon (DNDN) gets its prostate cancer drug, Provenge, approved by the FDA. Shares were up 26% at the close.
  • Senator Carl “Shitty” Levin is looking to ban banks from participating in proprietary trading.
  • The oil spill in the Gulf of Mexico continues to worsen and has lowered both BP and Transocean’s market cap significantly.
  • Analyst Dave Rosenberg tells us that Greece is going to default no matter what happens.
  • Tim Geithner and the Treasury vow to crack down on mortgage servicers. Could this be the end of subprime as we know it?

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