Shock GDP Report Ambushes The Bears

After yesterday’s bloodbath, the bears are now all but dead thanks in large part to the growing GDP of the United States that shattered estimates both far and wide. Stocks, commodities and the dollar are up for today and from the way it looks, one should not expect any reversals around 3:30pm.

Nearly every sector is up, save for healthcare which is floating somewhere between breakeven and down. Revlon Inc. (REV), maker of fine women’s products, is smashing the charts, up over 40% for the day at 8.09.  And Timberland (TBL) isn’t doing half bad either, up 27% at 16.91.

Energy companies like Apache (APA), BP (BP), Corning (GLW), and Hess (HES) are doing quite well, up anywhere from one to three per cent.The only loser of the bunch seems to be Exxon-Mobile (XOM), which is down a point.

Financials are recovering after yesterday’s slaughter, with Goldman Sachs (GS) back in the green, up nearly 2%. Bank of America (BAC), JPMorgan Chase (JPM), Wells Fargo (WFC), and even Citigroup (C) are all back in the game with glowing numbers.

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