Stocks Battle Back, Retail Optimism, Jobless Improved
The stock market battled back to positive territory on the heels of better than expected data from the retail front and an improved jobless rate. Gold approached the critical $1000.00/oz level before heavy selling pressure pushed price back down. Late day stock buying sent the indexes solidly higher with the DJIA adding +63.94 to 9344.61, the Nasdaq advancing +16.13 to 1983.20 and the broad based S&P 500 climbing +8.49 to 1003.24.
Costco Wholesale (COST | Chart | News | PowerRating): Led the S&P 500 higher by climbing 8.57% or $4.34 to $54.99/share after sales declined less than expected.
Barrick Gold (ABX | Chart | News | PowerRating): soared higher by 4.33% or $1.64 to $39.53/share on surging gold prices.
Oxford Industries (OXM | Chart | News | PowerRating): Jumped 20.14% or $2.84 to $16.94/share after the maker of Tommy Bahama clothing crushed analysts estimates.
Family Dollar (FDO | Chart | News | PowerRating): Missed sales estimates falling 8.58% or $2.66 to $28.33/share.
Oil added 9 cents to $68.12, Gold surged $19.20 to $997.70 and the VIX fear index retracted by 6.40% to 27.05.
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