Rally Underway Across Wall Street (AAPL, INTC, JPM, C, FCX, CAT, BP)
Stocks are undergoing a relief rally on Tuesday after a steep sell-off last week. The Dow Jones Industrial Average has gained 135 points to 9,822. The upward momentum has been broad based and sustained throughout morning trading.
Shares of Apple Computer (NASDAQ: AAPL) have jumped 1.68% to $251.11. Year-to-date, AAPL has gained over 19%.
Intel (NASDAQ: INTC) has seen a big boost after May semiconductor sales came in better than expected. INTC is 2.66% higher on the session to $19.70.
J.P. Morgan (NYSE: JPM) is catching a bid today, as well. JPM has surged 2.32% to $36.66. Year-to-date, the stock has fallen a little over 12%.
Citigroup (NYSE: C) has come off of its best levels, but is still 1.45% higher on the day. The shares are currently trading at $3.85.
Mining company Freeport-McMoran (NYSE: FCX) has added 3.59% to $60.64. FCX has been beaten up during the market correction, and has lost 24.47% in 2010.
Dow component Caterpillar (NYSE: CAT) is attracting buyers today as investors bet that the state of the global economy is not as bad as had been feared last week. The shares have surged 3.58% to $61.30.
One of the biggest gainers on the New York Stock Exchange today has been BP (NYSE: BP). The stock has jumped 7.29% to $31.48 as risk-embracing, opportunistic buyers step into the beaten down name.
