January 03, 2012 at 17:04 PM EST
Bulls Ring in 2012 With a Romp — Tuesday’s IP Market Recap
The Dow and S&P open trading with 1.5% jumps, with banks leading the way.

InvestorPlace Market RecapU.S. markets kicked off 2012 with a first-day party that saw the Dow jump almost 1.5% — and it was music to the ears to numerous sectors, including some of 2011’s dogs.

Citigroup (NYSE:C) led a laundry list of financials charging higher Tuesday, gaining a whopping 7.7% to finish at $34.98. Bank of America (NYSE:BAC), one of the seeming villains of last year, got a 4.3% head start on the rest of 2012, while national bretheren JPMorgan (NYSE:JPM, +5.2%) and Wells Fargo (NYSE:WFC, +3.2%) also celebrated the arrival of Baby New Year.

Materials companies also started hot. ArcelorMittal (NYSE:MT), which lost almost half its value in 2011, gained almost 9% on the day and finished at $19.77, with sector mates National Steel (NYSE:SID) and U.S. Steel (NYSE:X) climbing 7% and 6.5%, respectively. And InvestorPlace Editor Jeff Reeves got off to a roaring start to the 10 Best Stocks for 2012 competition, as his pick — 2011 hard-luck story Alcoa (NYSE:AA) — gained 6.7%.

Only four Dow Jones stocks were absent from the party, including a couple big winners from 2011. Verizon (NYSE:VZ), which gained 12% last year, was down 1%; and McDonald’s (NYSE:MCD) — the best Dow stock of 2011 — fell 1.5%.

Another notable loser Tuesday was Angie’s List (NASDAQ:ANGI), one of 2011’s big social IPOs. After the quiet period for Angie’s List expired, analysts were fairly reserved on the stock, sending ANGI shares down more than 6% on the day.

Three Up
  • Nabors Industries (NYSE:NBR): Up 9.69% ($1.68) to $19.02.
  • Micron Technology (NASDAQ:MU): Up 7.47% (47 cents) to $6.76.
  • Research In Motion (NASDAQ:RIMM): Up 6.97% ($1.01) to $15.51.
Three Down
  • Aveo Pharmaceuticals (NASDAQ:AVEO): Down 19.59% ($3.37) to $13.83.
  • Groupon (NASDAQ:GRPN): Down 6.59% ($1.36) to $19.27.
  • Altria Group (NYSE:MO): Down 3.68% ($1.09) to $28.56.

As of this writing, Kyle Woodley did not hold a position in any of the aforementioned stocks. Check out our list of previous IP Market Recaps.


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