Tuesday, February 09, 2010

MIDDAY LUNCH

Dow 10070.88  +162.49, Nasdaq 2151.34  +25.29, S&P 1071.44  +14.70 

Stocks have rallied to session highs.  The move coincided with the Dollar Index reversal which sank to a -0.7% loss, as the euro rallied on news that Europe's major governments have agreed to help Greece.

The natural resource sector, which includes energy stocks and materials stocks are up +2.3% and +2.6%, respectively. Commodities are higher also. The CRB Commodity Index is up +1.2% to its best level of the day.

Large-cap pharmaceutical stocks like Pfizer (PFE) 17.77, -0.07 and Merck (MRK) 36.49, -0.10 are lower.  Both stocks are down more than -10% from their respective 52-week highs.

Financials have fallen to a -0.2% loss as they extend their late-morning slide.  Multiline insurers are down -1.4% due to a disappointing quarterly report from Principal Financial Group (PFG) 21.07, -1.12.

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