MIDDAY LUNCH

Dow 10756.49  +70.9, Nasdaq 2397.13  +19.12, S&P 1168.51   +9.05 

S&P 500 hit 1170 level today where it encountered resistance. Stocks have since eased off of their highs, but broad-based gains remain as advancing issues outnumber decliners by 4-to-1 in the market. 

Today’s sector leaders are; Financials are up +1.2%, energy stocks are up +1.6% and materials stocks are up +1.1%.

Energy's stocks are higher today even with news of a smaller-than-expected build in weekly inventories in oil causing prices to fall.  Additionally, OPEC opted to keep output unchanged at its latest meeting, as analysis had expected.

Fed Chairman Bernanke is scheduled to appear before the House Committee on Financial Services at 2:00 PM EST, but he is unlikely to make any comments that could move the market.