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U.S. stocks on Thursday opened with sizeable gains thanks in large part to comments from European Central Bank President Mario Draghi vowing to preserve the euro. The Dow Jones Industrial Average jumped 233 points, or 1.9%, to 12,909. The S&P 500 index rose 22 points, or 1.7%, to 1,360. The Nasdaq Composite advanced 49, or 1.7%, to 2,903. It's a risk on day. Everything looks pretty good. The earnings from last night and this morning are also coming in better than expected. In the tech space LSI Logic, Akamai and Western Digital are up over 15% on earnings. Marvell is jumping 4% on an upgrade. TO the downside, Zynga is a dog down 39% on dismal earnings. Facebook is down 6% in sympathy. The retailers continue to shine. Cabela's and Croc's are up 14% on earnings. Tractor Supply is higher by 12% on earnings. Cheesecake Factory and Whole Foods are jumping 9% on earnings. Hershey Foods, Colgate Palmolive, Shutterfly, Artic Cat, and Bunge are also higher on earnings. Las Vegas Sands, Royal Caribbean, and Dr. Pepper Snapple are lower on earnings. In the industrial space United Tech and 3M are higher on earnings. The energy space also looks good thanks to better than expected earnings from Exxon Mobil. The financial space looks good this morning. KBR Group is jumping 10% on earnings. Invesco is higher by 4% on earnings. CME Group is higher as well on earnings. Homebuilder, PulteGroup looks good up 13% on strong earnings. The materials are one of the weakest sectors with Dow Chemical and Potash modestly lower on earnings. Cliffs Natural Resources is down 10% on dismal earnings. Through the first hour the averages remained strong near the highs of the day bumping up against resistance. Thank you Mario Draghi, but the proof will be in the pudding. Through the morning the averages drifted off the highs as Apple fell into the red. However in the afternoon the averages rebounded with the Dow rising 200 points once again. The Nasdaq is up 30 points even as Apple remains in the red. Nine out of 10 sectors are up over 1%. Materials remain the weakest sector. Within the healthcare space, the HMOs continue to struggle since the Supreme Court decision on Obamacare. WellPoint dropped 12% yesterday on disappointing earnings and continued to fall further today. In the last hour the averages pushed back to the highs of the day. A great day for the bulls. The Dow Jones Industrial Average finished up 211 points, or 1.7%, at 12,887, the best day this month, with all 30 components except Cisco Systems trading higher. The S&P 500 rose 22 points, or 1.7%, to 1,360, led by a 3% rise in telecom stocks. All 10 sectors were higher. The Nasdaq Composite rose 39 points, or 1.4%, to 2,893. Component Facebook fell 8.5% before releasing results after the bell.
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