4:15 PM, Jun 8, 2010 --
- NYSE up 83.7 (1.3%) to 6,596.12
- DJIA up 123.5 (1.3%) to 9,940
- S&P 500 up 11.5 (1.1%) to 1,062
- Nasdaq down 3.33 (0.2%) to 2,171
- Hang Seng up 0.56%
- Nikkei up 0.18%
- FTSE down 0.81%
(+) DD gets USDA ok for Plenish High Oleic Soybean.
(+) GLW upgraded.
(+) AAPL rebounds from Monday's post-rollout decline; new iPhone drawing mixed reviews.
(+) HEAT inks new contracts.
(+) MCD reports 4.8% May same-store sales rise.
(-) SOLR gives up early gain; inks new contracts.
(-) CYCC turns lower after initial gain on study data.
(-) BHI downgraded.
(-) FCEL misses Q2 estimates.
(-) TLB swings to Q1 gain.
(-) MSFT selling convertible notes.
(-) SPWRA partners on new plant.
Stock averages made a late push in Tuesday's session, extending gains for the DJIA and S&P 500 and allowing the Nasdaq Composite, which had lagged all day, to nearly erase a loss that followed negative analyst comments on chipmakers.
Wall Street got a lift from relative euro stability and Federal Reserve chief Ben Bernanke's late Monday comments that he does not expect a dip back into recession.
Stocks were mixed earlier in the session, in part getting a lift from relative euro stability and Federal Reserve chief Ben Bernanke's late Monday comments that he does not expect a dip back into recession. The euro rose to $1.1956, a day after touching a new four-year low.
Bernanke said in an ABC News interview that he expects the U.S. recovery to continue, but he acknowledged it "won't feel terrific."
The Fed head also said European leaders were taking the right steps to control rising deficits.
Still, major European indexes fell Tuesday after Fitch Ratings warned that Britain faces "formidable" fiscal challenges.
Tech shares aren't faring as well as the broader market. Chipmakers fell in response to negative analyst comments, including Intel (NASDAQ:INTC) at down 1.5% and Marvell Technology (NASDAQ:MRVL), down 6%.
Oil futures end a volatile session up 0.8% at $71.99 a barrel.
As for individual movers, McDonald's Corp. (NYSE:MCD) gained after it reported a rise in same-store sales. Overall, same-store sales rose 4.8% in May, led by a 5.7% gain in Europe, a 3.4% gain in the United States and a 3.8% rise in the rest of its global markets. In April, same-store sales rose 3.8%.
Shares of Novartis (NYSE:NVS) were higher as the U.S. Food and Drug Administration said that the company's drug, Gilenia, which is used to treat multiple sclerosis, has risks that may outweigh its benefits, according to a Bloomberg report. The drug, while effective, causes a slow decline in the lungs' ability to function and may be linked to certain cancers, the report said.