Stocks Surge on Eurozone Bailout Hopes
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U.S. stocks are up sharply Monday as investors are focusing on positive developments related to the European credit crisis and getting long exposure ahead of third-quarter earnings season.
UPDATE: The Dow closed up 330 points, the Nasdaq added 87 and the S&P 500 rose 39.
In Europe, Germany's Angela Merkel and France's Nicolas Sarkozy promised a "comprehensive response" to capitalize banks by the end of the month.
After the market closes on Tuesday, Aloca (NYSE: AA) unofficially kicks off the third-quarter earnings season. Investors are looking for the company to post EPS of $0.22 on revenue of $6.24 billion. Shares are up 13 percent over the last week.
Traders are also talking about Netflix Nasdaq: NFLX), which is reversing plans to separate its DVD and streaming websites. Shares are up nearly 5 percent Monday.
Apple (Nasdaq: AAPL) is breaking records still. The iPhone maker said pre-orders of the new 4S model topped 1 million in the first 24 hours. The prior single-day record was 600,000 for the iPhone 4.
Gold is up $30 to $1,666 mid-day Monday.
The bond market is closed for the Columbus day holiday.
UPDATE: The Dow closed up 330 points, the Nasdaq added 87 and the S&P 500 rose 39.
In Europe, Germany's Angela Merkel and France's Nicolas Sarkozy promised a "comprehensive response" to capitalize banks by the end of the month.
After the market closes on Tuesday, Aloca (NYSE: AA) unofficially kicks off the third-quarter earnings season. Investors are looking for the company to post EPS of $0.22 on revenue of $6.24 billion. Shares are up 13 percent over the last week.
Traders are also talking about Netflix Nasdaq: NFLX), which is reversing plans to separate its DVD and streaming websites. Shares are up nearly 5 percent Monday.
Apple (Nasdaq: AAPL) is breaking records still. The iPhone maker said pre-orders of the new 4S model topped 1 million in the first 24 hours. The prior single-day record was 600,000 for the iPhone 4.
Gold is up $30 to $1,666 mid-day Monday.
The bond market is closed for the Columbus day holiday.
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