The Reformed Broker, AKA Phat Albert, here with today’s Market Recap…
A lot of churning in the markets this morning, but the resolution was clearly to the upside. The Dow Jones Industrial Average is now at the highest point since the wheels fell off in early February. The consumer recovery plays were the winners today, with everything from Semis to Auto Parts to Retailers bangin’ the gong.
Silver and Gold stocks got clocked for 5% plus across the board. Sorry Schiff.
Krispy Kreme (KKD) put on a massive move to the upside (40% plus!), supporting the theory that when people are out of work, they stop caring about their appearance and let themselves go, consuming dozens and dozens of donuts. Ummm Donuts.
Earnings-wise, Google‘s (GOOG) in the on deck circle with their commentary on the ad spending climate having ramifications for many sectors and industries. The estimate for tonight’s report is $4.93 in earnings per share.
Your favorite financial blogger is headed to the Mets game tonite, checking out the brand new stadium for the first time. If the rumors are true and Citigroup CEO Vikram Pandit is actually selling steak-on-a-stick in front of Citi Field, I’ll say “what’s up” for you.
Enjoy your evening, I’ll leave you with a very important Mets-related story from The Onion.
Full Disclosure: I am currently long JPM and gold-related stocks in client and personal accounts.