.DJI 11,774.59 (+161.29
+1.39%) .SPX 1,273.72 (+16.84
+1.34%) .IXIC 2,636.05 (+19.23
Dow Jones Industrial Average ended higher on Thursday, gaining 1.39% to end at 11,774.59 on theeased tension over the nuclear crisis in Japan. S&P 500 index also ended firmer at 1,273.72, up16.84 points or 1.34%. Tech stocks remained vulnerable, as its gains were capped at 0.73% or19.23 points sending Nasdaq Composite index to end at 2,636.05.From the Middle East, the UN Security Council has agreed to impose no-fly-zone on Libya, sending theoil prices back above $100 a barrel. US light crude finished at $103 a barrel on Thursday, up5.79% from Wednesday
s settlement. Brent crude also soared 4.45% to end at $115.13 a barrel.Gold jumped 1.42% to return above $1,400/oz. as the precious metal ended Thursday at$1,407.35/oz.US economic indicators also lend a strong footing to the US stocks as jobless claims fell in the recentweek and that the Philly Fed index beat the market
s consensus. Jobless claims maintained its levelbelow 400K at 385K, better than the expected 389K and lower than the 401K recorded a weekearlier. Philly Fed index was at 43.4% in March, dumbfounding the market
s consensus that the indexwas falling to 30.9%. The jump from 35.9% to 43.4% helped boost the investors
sentimentsomewhat. Other notable releases were industrial production which fell 0.1% in February, the samepace as in January despite the market saw an increase of 0.7% earlier. CPI inched faster to 0.5%from 0.4% in February, as expected. The core measure which excludes food and energy componentsshowed a rise of 0.2%, the same pace as in January but slightly above what the market initiallyexpected.
Goldman Sachs raised AA
s Q1 EPS estimates from $0.25 to $0.28 on the back of higheraluminum prices. Aluminum price for Q2 has been raised to $1.12/lb from $1.06/lb. Q2 EPS wasunchanged. AA
s FY11 EPS in turn, also rose to $1.03 from $1.00 while its 2012 EPS stays at$1.25 and 2013 EPS remains at $1.40. AA has been kept at NEUTRAL with PT at $17.Citigroup analyst said that JPM is
Best Stock to Own
while BAC is
. BAC however, iscurrently under the investigation over Libor manipulation by the SEC and the Justice Department.CAT
s analyst meeting will be held on March 23
at 3:45 PM.DIS announced that its operations in Tokyo have been suspended following the quake last week inJapan.IBM has been kept at BUY by Canaccord Genuity with PT at $180.INTC bought Silicon Hive, a developer of programmable parallel processor technology. SiliconHive is based in Netherlands.KFT has increased its Maxwell coffee prices by 22% while instant coffee has been raised by 10%on the back of rising green coffee.PFE has recalled its painkiller Embeda due to stability issue.