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Sep21
Stocks charge higher at midday

Stocks are charging higher thus far today, extending on the week's gains. The Dow is higher by 105 points as of 12:45 pm on the east coast. The Nasdaq is higher by 23 points. The S&P 500 is up by 11 points, or 0.75%. moneybag.jpg

All of the major industries are higher today, but its the usual suspects leading the way again so far today. It sounds like a broken record of late, but energy stocks and basic materials are once again the leaders.

Tesoro Corporation (NYSE:TSO) leads the oil refiners higher on the day, gaining 2.54% today. Hess Corporation (NYSE:HES) is higher by 2.62% leading the explorer group. Sunoco Inc. (NYSE:SUN) is higher by 3.25% on the day.

Potash Corporation (NYSE:POT), the large integrated fertilizer company, is higher by 4.52% to another 52 week high today on very strong volume. CF Industries Holdings (NYSE:CF) shares are gaining 4.59% and have already traded triple their daily volume at midday. Terra Industries (NYSE:TRA) shares are jumping 7.25% as the maker agricultural nitrogen products has now gained about 400% from a year ago. The entire agricultural sector is absolutely on fire right now.

Infrastructure plays are very strong today as well, with several of them hitting new yearly highs today. McDermott International (NYSE:MDR) is up by 4.35% on the day to a new high. Jacobs Engineering Group (NYSE:JEC) is higher by 3.28% to a new yearly high.

Technology stocks are higher on the day, with several large caps making impressive gains. Texas Instruments (NYSE:TXN) is higher by 3.63% after upping its dividend and increasing its buyback. Research in Motion (Nasdaq:RIMM) shares continue their recent amazing run, higher by 3% on the day to another 52 week high on strong volume.

Today is a triple witching Friday on Wall Street so it will be interesting to see how volatile stocks are this afternoon, and whether they are able to hold or extend their gains. Volume is certainly strong today, with the Nasdaq above 1.3 billion shares at midday.

The news cycle has certainly been quite positive for stocks this week, and the bulls will certainly point to this week as being a sign of the overall continued strength in the U.S. stock market.


1 Comments/Trackbacks




HEY GYF,

what a week , eh?!

thanks for the great intra-day updates, always on point.

and love POT!

have a nice weekend,

BOTD

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