Stocks Buoyed by Upbeat Jobs Data; Oil Soars to Nine-Month High

Despite downbeat earnings from HPQ, the Dow notched a daily victory

by 2/23/2012 4:32:08 PM
Stocks quoted in this article:
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Crude futures closed higher today, thanks in part to a well-received report on domestic unemployment claims. This news helped the euro gain ground on the greenback, providing a boost for dollar-denominated commodities. Meanwhile, concerns about potential supply disruptions from Iran continue to support black gold, particularly after today's inventories report showed a steeper-than-forecast drawdown in gasoline stockpiles. By the close, crude oil for April delivery added $1.55, or 1.5%, to settle at $107.83 per barrel -- the contract's latest nine-month high.

Weakness in the dollar was also a boon for gold futures, with the precious metal finding a new year-to-date high in today's trading. Gold for April delivery ended the day up $15, or 0.9%, at $1,786.30 per ounce -- its loftiest perch since Nov. 15.

Levels to Watch in Trading:

  • Dow Jones Industrial Average (DJIA – 12,984.69) - support at 10,500; resistance at 13,000
  • S&P 500 Index (SPX – 1,363.46) - support at 1,100; resistance at 1,400
  • Nasdaq Composite (COMP – 2,956.98) - support at 2,400; resistance at 3,000



OUTPERFORMING AND UNDERPERFORMING SECTORS

STOCKS – MOVERS

STOCKS – EARNINGS

STOCKS – NOTABLE CALL ACTIVITY

STOCKS – NOTABLE PUT ACTIVITY

STOCKS – NEW ANNUAL HIGHS

STOCKS – NEW ANNUAL LOWS

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