Thread: Wall Street Rally.......

The major indices traded at session highs and the financial sector is up 10%, accounting for 15.2 points of the S&P 500's advance.

Wells Fargo reported second quarter earnings of $0.53 per share, topping Wall Street's expectation by $0.03. In addition, the San Francisco-based bank raised its dividend by 10%, indicating it is in a solid financial position despite the current environment. The stock spiked 32% on the news.

This, along with better-than-expected earnings from Charles Schwab (SCHW 21.91, +2.69), Northern Trust (NTRS 76.00, +8.81) and Marshall & Ilsley (13.61, +2.02) sent the financial sector soaring to a 12.3% gain -- the largest advance since it was created in 1989.

It was a solid session outside of financials as well, with eight of the ten economic sectors posting an advance, aided by the second straight day of tumbling oil prices, bargain hunting and short-covering.

With regard to crude oil, prices fell 3.1% after a government report showed an unexpected crude and gasoline inventory build, sparking a rally in energy-price sensitive areas.

Stocks had another strong finish Thursday as all three of the major indices finished more than 1% higher. The Dow Jones Industrial Average had the best performance, finishing near its high with a 1.9% gain.


Falling crude prices helped revive the optimistic mood among investors. Stocks had actually succumbed to selling pressure midday, but when crude dipped lower the stock market rallied. Crude shed roughly $5 to finish below $130 per barrel, its lowest level in more than one month.


Positive economic data also lent support to Thursday's advance. Housing starts for June increased 9.1% to an annualized rate of 1.066 million units, which is above the 960,000 consensus estimate. The lift in residential construction bodes well for overall economic activity.

the major commodities like silver drops from 26k to 21k@18% of loss in the simmilar fashiongold and all other commodities goes for a sharp fall
i think it is the right and perfect time to invest in shres fertilizers power and refineries and wait for one week to bottom up the gold and silver commodities prices
expectations to continues the raly of bse till 16k to 16.350k