MIDDAY LUNCH

Dow	10428.65	+99.76	(+0.96%)
Nasdaq	2237.23	+25.54	(+1.14%)
SP 500	1114.88	+12.41	(+1.11%)
10-yr Note	-33/32	3.66%
NYSE	Adv 2177	Dec 821	Vol 566 mln
Nasdaq	Adv 1730	Dec 958	Vol 1.18 bln

Broad based buying has led the markets higher today.  A weaker dollar helped the markets sustain their gains from last week.  The dollar has since recovered and is up 0.2%.

The commodity and materials sectors have been the leaders today.  The material sector is up 1.4% mostly on news that Morgan Stanley upgraded Alcoa (AA) 15.84 +1.26.

The NASDAQ reached a new 52 week high today.  Part of the rise today is based on an upgrade on Intel (INTC) 20.13 +0.50 by Barclays.

Chattem (CHTT) 92.98 +23.00 +32.80% is the biggest mover so far today after it was announced that Sanofi-Aventis (SYN) 39.17 +0.06 +0.15% would be purchasing the company for 1.9 billion. 

Both Walgreen (WAG) 36.66 +0.025 and ConAgra (CAG) 21.12 -0.039 beat their earnings estimates this morning. Walgreen’s Reported earnings of 0.52 per shares the street was looking for 0.48.  ConAgra reported earnings of 0.52 and the street was looking for 0.47 per share.  The company did miss their revenue projections.