Stocks spent most of the day in negative territory today as oil prices rebounded from yesterday's lows, but the buyers stepped in at the end of the day and sent stocks slightly higher for a second straight session. The Dow finished the day higher by just under 46 points. The Nasdaq finished higher by 5.46 points. The S&P 500 gained 5.49 points, or 0.4%. 
There were some very distinct winners and losers as far as the sectors went in today's session. Basic materials, retailers, and energy stocks were all strong today, while the financials showed some weakness.
The basic material stocks that were somewhat weak yesterday made up for that and more today with some huge gains. Monsanto Company (NYSE:MON) shares rose by 5.25% as the agricultural sector as a whole jumped across the board. The Mosaic Company (NYSE:MOS) popped higher by 7.19%. CF Industries (NYSE:CF) jumped a staggering 10.06% on the session, and Terra Industries (NYSE:TRA) jumped 8.35%. Praxair (NYSE:PX) shares jumped 3.81% and closed within reach of their 52 week high. Weyerhauser Company (NYSE:WY) gained 3.61% on strong volume.
The retail group was strong today, buoyed by some stronger than expected earnings reports. Chico's FAS (NYSE:CHS), which has had nothing but bad news in the past year or so, popped higher by 13.53% after reiterating its oulook. American Eagle (NYSE:AEO) profit topped analysts estimates by a couple cents and the stock surged by 8.07%. Others in the retail sector did well as investors become a little less pessimistic about the prospects for consumer spending. Guess Inc. (NYSE:GES) shares surged 8.97% on strong volume today. Aeropostale (NYSE:ARO) shares rose 4.12% and closed within 4% of a new high. Nordstrom Inc. (NYSE:JWN) saw its shares add 3.04% on the session. Even home improvement retailer Lowe's (NYSE:LOW) had a nice day, adding 2.76%.
In the energy sector we saw some renewed buying interest as crude oil rose by more than $2 a barrel today. Transocean (NYSE:RIG) gained 2.93% on the day. Weatherford International (NYSE:WFT) shares rose 4.13% on nearly double their normal volume. National Oilwell-Varco (NYSE:NOV) shares gained 3.11% today. Noble Corporation (NYSE:NE) shares popped higher by 3.69% on the day.
A real weak spot in the market today was financials, especially the regional banks. KeyCorp (NYSE:KEY), based out of Cleveland Ohio, was the real culprit to the selling pressure. KEY announced that it expects more charge-offs and the market then took down its stock by 10.43%. Huntington Bancshares (Nasdaq:HBAN) fell 4.94% and hit a new 52 week low. Fifth Third Bancorp (Nasdaq:FITB) shares also hit a new 11 year low, falling 3.58%. Regions Financial (NYSE:RF) also hit a new 52 week low after falling by 5.04% following the KEY warning.
The last two days have been somewhat encouraging to the bulls, but there is certainly a lack of real conviction in the buying. It will take quite a bit more than two small up days to turn the tide in what has been a pretty negative sentiment on the street.
The most encouraging thing from today's session was the positive news from the retail front. Polo Ralph Lauren, Chico's FAS, and American Eagle all surprised to the upside and were rewarded nicely by investors. Keep a close eye on the retail reports tomorrow to see if the trend continues.
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