Dow Soars 82, Nasdaq adds 9

The Dow added 81.96 points (+0.73%) today to close at 11,317, the Nasdaq added 9.12 points (+0.40%) to close at 2,303 and the S&P 500 added 7.81 points (+0.60%) to close at 1,305. Markets ignored news of a delay in Microsoft�s (Nasdaq: MSFT) new operating system and instead focused on strong earnings news from Morgan Stanley (NYSE: MS), Nike Inc. (NYSE: NKE) and FedEx Corporation (NYSE: FDX) to push markets higher. Volume was modest with 1.5 billion shares trading on the NYSE and 2.2 billion shares trading on the Nasdaq. Advancers topped decliners by a margin of 22:10 on the NYSE and 19:11 on the Nasdaq. In individual stories, TransMontaigne Inc. (NYSE: TMG) closed 24% higher after Morgan Stanley Capital offered to buy the company for $8.50 per share. On the downside, Fairfax Financial Holdings Ltd. (NYSE: FFH) closed 13% lower after the company and its CEO received SEC subpoenas. Tomorrow traders will be looking for data on Initial Jobless Claims at 8:30AM and Existing Home Sales at 10AM.

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