Broad-based session’s advance
- Wednesday Feb 10,2010 10:51 AM
- By pickoption
- In Morning Update
Stocks pushed higher in broad-based fashion after greenback pulled back as euro rallied amid speculation for Greece bailout. Energy stocks were broadly strong, 2.0% gain came with help from the broader market and a 2.6% rise in oil prices. Technology finished solidly higher Tuesday, but losses from Electronic Arts (ERTS) stood out on a disappointing quarterly outlook. Leading tech stocks closing with gains included Apple, Google, Hewlett-Packard and Microsoft.

Advancing Sectors: Materials, Energy, Industrials, Consumer Discretionary, Consumer Staples, Telecom, Financials, Utilities, Tech, Health Care;
Declining Sectors: None;
FEAR METER: The S&P500 implied volatility slid at 22.2 on broad-based advance.
IN FOCUS: The December trade balance is due before the market open. The trade gap is expected to have narrowed to $35 billion from $36.4 billion. The January Treasury budget, due out in the afternoon, is expected to have narrowed to $60 billion from $91.9 billion in December. The weekly crude oil inventories report from the government is also due in the morning.
In the afternoon, the House Oversight Committee holds a hearing on Toyota (TM). The company has recalled more than 8 million vehicles due to safety issues with its gas pedal.












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