Stocks Rip Higher (SPY, DAL, AMR, NVO, URI)
October 20, 2010 12:34 PM
After yesterday's dollar-induced head fake, equities are ripping higher today with the SPDR Trust (NYSE: SPY) higher on the session by 1.29%, trading at $118.24. Tech stocks are marginal outperformers with the Powershares QQQ Trust (NASDAQ: QQQQ) up by 1.32%, trading at $51.49.
Some notable movers to the upside today include:
• Novo-Nordisk (NYSE: NVO): higher by 11.25%, trading at $101.19
• United Rentals (NYSE: URI): higher by 10.81%, trading at $17.68
• AMR Corp. (NYSE: AMR): higher by 7.52%, trading at $7.00
• Delta Airlines (NYSE: DAL) higher by 9.80%, trading at $12.84
The SPY is now nearing the top of its recent range, which sits at $1186.67. Although it is resistance until proven now, this market is remarkably resilient and favoring the upside.
