MIDDAY LUNCH

Dow 11144.80  +136.19, Nasdaq 2497.33  +36.14, S&P 1200.47  +13.78 

Stocks are at the high of the day on broad based gains, while commodities are also stronger today led bt oil which is up +1% to $87.00 per barrel.

Airlines are the strongest performer so far today, the Amex Airline Index is up +2% on takeover news from Continental (CAL) 22.90 +0.55, +2.46% and United (UAUA)  22.23 +0.63, +2.93%.

In earnings news today Clorox (CLX) 64.18 -0.52, -0.80% reported earnings of $1.16 beating estimates by +0.07 and Sysco (SYY) 30.94 -0.59, -1.89% reported earnings of $0.64 beating estimates by +0.02.

Shares of companies with possible exposure to the gulf oil spill  are continuing to be punished in today’s trading BP (BP) 48.25 -3.89, -7.47%, Transocean (RIG) 70.11 -2.20, -3.06%, Cameron Intl (CAM) 38.38 -1.08, -2.74% and Halliburton (HAL) 30.10 -0.54, -1.79%.