Stocks soared today on higher earnings and positive economic data. Here’s the rundown:
Dow: Up 103 points to 11,122.
NASDAQ: Up 38 points to 2504.
S&P 500: Up 13 points to 1210.
Commodities: Oil is up $1.85 to $85.90 a barrel. Natural gas futures are up 0.9% to 4.1910.
Gold is up $1.50 to $1154.90 an ounce. Silver is up $0.16 to $18.41 an ounce.
Now here are the stories you need to know:
- Tim Geithner is calling the recovery real saying that the U.S. is expanding “faster than expected” and that the U.S. is improving at a greater pace than other developed economies.
- The Fed has said that the economy expanded “somewhat” in March with 11 out of 12 U.S. districts showing expansion, according to Bloomberg. Only St. Louis showed declining conditions.
- Ford’s sales are improving at a better rate than anytime since 1977. The American automobile company’s sales rose 2.7 percentage points in the first quarter. The stock is up 4.77%.
- The war over financial reform expanded today as Austan Goolsbee, the President’s economic advisor, went on CNBC to attack big banks for their lobbying push on the Republican Party. President Obama also called for more agressive regulation of derivatives today, and Sen. Dodd is pushing Republicans to stop their lobbying campaign or face being kicked out of reform negotiations.
- Apple is delaying the launch of its iPad outside of the U.S. due to unprecedented demand in the American market. Apple analyst Gene Munster has upped his call on the stock to $299.
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