Wall Street Grand LLC presents to the Stock Market Community the Today’s Primary News that took place on Thursday, April 08, 2010. For More information regarding the most Up-to-Date Stock Market Information, make sure to visit the Most Exclusive and In Depth newsletter website at: http://www.wallstreetgrand.com/.
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Stocks come back a two-day losing streak Thursday after retailers delivered their best sales numbers in a decade, reinvigorating buoyancy in the recovery.
Congress is suggesting regulatory reforms for banks that are seen as "too big to fail" but Prince denied that Citi was either "too big to fail" or "too big to manage."
The S&P retail index hit a 52-week high after the nation's major chain stores delivered some of their best sales results in a decade. Same-store sales jumped 9.1% in March, the highest increase on record. Economists had expected a more modest 6.3% increase.
Bank stocks advanced, with Citigroup and PNC Financial both up more than 2%. JPMorgan was up about 1%.
The Dow rose 29.55, or 0.3%, to close at 10,927.07. The Nasdaq added 0.2% and the S&P 500 tacked on 0.3%.
Homebuilders ended mixed as mortgage rates rose to their highest level in eight months last week, with the 30-year fixed at 5.21%. Airline stocks soared across the board after news late Wednesday that United Airlines and U.S. Airways are in merger talks. UAL, parent of United, and U.S. Airways advanced 6.8% and 10.7%.
Bed Bath & Beyond shares boosted 4.1% after brokerage Thomas Weisel increased the retailer's price target to $48 from $43. The firm reported earnings that beat
Wall Street estimates and raised guidance for its fiscal year after the bell Wednesday
Microsoft rose 1.9% after the tech giant announced plans to debut new technology for home entertainment at next week's National Association of Broadcasters convention.
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