Stocks See Relief
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To the relief of investors, stocks are higher Thursday after a volatile week - prices have swung by 500 points or more for four straight sessions. For once this week, traders are overlooking issues in the Euro-zone and focused on bottom-fishing in beaten-up names.
UPDATE: The Dow closed up 423 points to 11,143, the Nasdaq closed up 111 points and the S&P 500 was up nearly 52 at the close.
Heavy insider buying, highlighted by StreetInsider.com a few days ago, is continuing and has picked up media coverage. This is giving investors some hope that a bottom could be near.
In addition, with 10-year Treasury yields at a measly 2.2%, investors are looking for strong-yielding dividend stocks. Top paying blue-chip dividend stocks like Coca-Cola Company (NYSE: KO), Pepsico, Inc. (NYSE: PEP), Johnson & Johnson (NYSE: JNJ) are all up over 3 percent this morning.
Cisco (Nasdaq: CSCO) defied skeptics with a solid fourth quarter and outlook, which has investors lifting its stock a shocking 16 percent.
UPDATE: The Dow closed up 423 points to 11,143, the Nasdaq closed up 111 points and the S&P 500 was up nearly 52 at the close.
Heavy insider buying, highlighted by StreetInsider.com a few days ago, is continuing and has picked up media coverage. This is giving investors some hope that a bottom could be near.
In addition, with 10-year Treasury yields at a measly 2.2%, investors are looking for strong-yielding dividend stocks. Top paying blue-chip dividend stocks like Coca-Cola Company (NYSE: KO), Pepsico, Inc. (NYSE: PEP), Johnson & Johnson (NYSE: JNJ) are all up over 3 percent this morning.
Cisco (Nasdaq: CSCO) defied skeptics with a solid fourth quarter and outlook, which has investors lifting its stock a shocking 16 percent.
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