U.S. stocks are trading up today as solid first quarter earnings from some of the largest tech companies draw investors back in for stock market rally. Tech stocks leaders like Intel (Nasdaq: INTC) and IBM (NYSE: IBM) beat Wall Street expectations, and Apple (Nasdaq: AAPL) is also on deck to release their Q2 earnings after market closes today. The Nasdaq Composite got the biggest push, rising 2 percent, while the Dow Jones Industrial Average and the S&P 500 are also up about 1.5 percent respectively. In commodities, oil prices continue to surge, topping over $100 per barrel, and gold breaks the $1,500 mark per Troy ounce.
Major U.S. Stock Indices
DJIA: 12,445.29 (+1.46 percent)
S&P 500: 1,330.24 (+1.30 percent)
Nasdaq: 2,798.75 (+1.96 percent)
Russell 2000: 837.73 (+1.79 percent)
In other news:
- BP (NYSE: BP) may be on the comeback, but the oil spill isn't behind the company or the people whose livelihoods were affected by it. [Marketwatch]
- Gold and silver continues to benefit from the weakening dollar. [WSJ]
- The cases for why Apple, which likes to set the bar low for earnings, could likely disappoint investors this quarter. [The Street]
- What does Bernie Madoff, the disgraced money manager and poster boy for financial fraud, have in common with serial killers? A lot more than you think, apparently. [Reuters]
- Bank of America (NYSE: BAC) is selling its private equity business for $5 billion. After overpaying for acquisitions during the financial crisis, the largest bank in the U.S. is now looking to shed some of that weight. [Financial Times]
Check back as more news develops.
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