Analysts' upgrades of market critical companies and optimism over tomorrow's FOMC statement drove stocks to near short term highs on the session. The Dollar is feeling pain as the EUR/USD pair rallied higher toward the technical resistance of 1.5000 level. The tumbling dollar fueled buying in the commodity complex pushing gold, copper and oil higher. The DJIA gained +51.01 to 9829.87, the Nasdaq moved higher by +8.26 to 2146.30 and the broad based market barometer S&P 500 stretched ahead by +7.00 to 1071.66.
American International Group (AIG | Chart | News | PowerRating): Ended the day lower by 5.37% or $2.60 to $45.80/share despite a lawmaker saying he would give serious consideration to easing the bailout terms.
Carnival Corp (CCL | Chart | News | PowerRating): The cruise line floated higher today by 4.75% or $1.52 to $33.52/share after increasing its full year forecast.
Macy's (M | Chart | News | PowerRating): Upgraded to "buy" at Citigroup, with shares reacting by climbing 5.51% or 98 cents to $18.77.
CarMax (KMX | Chart | News | PowerRating): Crushed analysts second quarter profit forecasts due to the "Cash for Clunkers" program. The stock climbed 9.67% or $1.87 to $21.20/share.
Oil climbed $1.84 to $71.55, gold added $10.60 to $1016.30 and the fear VIX index fell 4.07% to 23.08.
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