The Dow Added 157 Points, Nasdaq Gained 44

The Dow added 157.18 points today to close at 12,207.57 the Nasdaq gained 44.46 points to close at 2,385.14, and the S&P 500 added 21.29 points to close at 1,321.29. The world markets rebounded today and Wall Street followed. Treasury Secretary Henry Paulson also helped ease investor panic after addressing issues in sub-prime and saying the housing slump is finally hitting a bottom. Separately, oil gained $0.60 to close at $60.67.

Volume was modest with 3.44 billion shares trading on the NYSE and 2.22 billion trading on the Nasdaq.
Advancers topples Decliners by a margin of 27:6 on the NYSE and 25:6 on the Nasdaq.

In Individual stories, Sykes Enterprises (Nasdaq: SYKE) gained 23.2% after reporting Q4 EPS of $0.20, 1 cent worse than estimates.(0.21) Revenues were $158.6 million vs. $154.14 million consensus. The company said its business outlook for the first quarter and full year of 2007 reflect expectations of continued positive momentum from the fourth quarter 2006. Also, this morning, Friedman Billings upgraded the stock. InterMune (Nasdaq: ITMN) fell 21% after the DMC found the overall survival result crossed a predefined stopping boundary for lack of benefit of Actimmune relative to placebo.

Tomorrow, investors will be looking for earnings from American Eagle (Nasdaq: AEOS), BJ's Wholesale (NYSE: BJ), Genesco (NYSE: GCO), Saks (NYSE: SKS), Talbots (NYSE: TLB) and Westwood One (NYSE: WON)

Traders will be looking for economic data on Oil Inventories (10:30AM EST) and The Federal Reserve's Beige Book (2:00PM EST).

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