Dow Jumps 97, Nasdaq Adds 35

The Dow added 96.86 points today to close at 11,327, the Nasdaq added 34.53 points to close at 2,150 and the S&P 500 added 9.85 points to close at 1,295. Another benign reading on inflation (this time on the consumer side) helped push stocks higher again. A dip in crude oil prices also spurred buying.

Advancers crushed decliners by a margin of 25:8 on the NYSE and 20:10 on the Nasdaq. Volume was active with 1.6 billion shares trading on the NYSE and 2.2 billion on the Nasdaq.

In individual stories, Parlux Fragrances (Nasdaq: PARL) jumped 26% after the company entered into a letter of intent to sell its Perry Ellis fragrance rights to Victory International LLC. On the downside, Daktronics Inc. (Nasdaq: DAKT) sunk 28% following disappointing earnings and guidance.

Tomorrow traders will be looking for data on Initial Jobless Claims at 8:30AM, Leading Indicators at 10AM, Natural Gas Inventories at 10:30AM and the Philly Fed Index at noon. Earnings from Sears Holdings (Nasdaq: SHLD), Dell (Nasdaq: DELL) and Gap Inc. (NYSE: GPS) will also be of interest.

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