What a difference a day makes: Although stocks have yet to regain all their lost ground after yesterday’s worst trading day of the year, equities were broadly higher this afternoon.
Alcoa (AA) was the best performer in the Dow, gaining 8% on its earnings report. Chevron (CVX) was trading up following its guidance, but was recently down 0.4%, the worst of the handful of Dow components in the red; still energy stocks were largely notching gains. Investors also shrugged offÂ any broader implications of aÂ negative warning from Nokia (NOK)–the stock was down 15% toÂ a new 52-week low, but didn’t deter tech’s rally.
Financials also gained: Bank of America (BAC), the Dow’s biggest laggard yesterday, surged ahead 3.5% on an upgrade from Guggenheim Securities.