Photo: Associated Press
Equities are to unstoppable as Fabrice Tourre is to fabulous.
DJIA: Up 25 points to 11,117.
NASDAQ: Up 20 points to 2500.
S&P 500: Up 9 points to 1207.
Oil: Up 2.4% or $2.00 to $83.45 a barrel.
Gold: Up 0.2% or $3.10 to $1138.90 an ounce.
Silver: Up 0.6% or $0.11 to $17.84 an ounce.
Now here’s what you need to know as you leave work today:
- Apple reports earnings after the closing bell today, follow our live coverage here.
- Goldman’s bumper earnings, reported this morning, have failed to boost the stock as concerns over its SEC charges continue to dominate market chatter.
- Republicans are stepping up their allegations of improper coordination between the White House and the SEC over the convenient timing of the financial regulation push with the Goldman Sachs charges. House Republicans are starting an investigation.
- The likelihood that Sen. Dodd’s proposed financial reform legislation is passed is increasing as Republican Sen. Shelby said a 85% of the bill was “conceptually” agreed upon, and that he believed the bill would be bipartisan.
- Deutsche Bank has ditched their lead CDO-smith in a move sure to raise eyebrows as the SEC continues to investigate banks involved in the shorting of subprime. Greg Lippmann was a market maker in subprime shorting. He now moves on to start a firm with another ex-Deutsche employee.
- Energy stocks boomed today, with ETFs in oil and gas exploration showing significant gains. Oil prices also jumped as a result of increasing confidence that the impact of the ash cloud halting European flight would soon diminish. Several countries have reopened their airspace, though much of the UK remains closed.
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