QE3 Boosts Markets At Midday
The Federal Reserve announced a third round of quantitative easing to boost the markets during the midday with the Dow soaring 105 points to 13,438. Nasdaq climbed 30 points to 3145.
On the upside
A Seeking Alpha contributor expects Heckmann (NYSE: HEK) stock to climb.
A poll conducted by Sina (Nasdaq: SINA) indicated that only 27% of Chinese would purchase Apple's (Nasdaq: AAPL) new iPhone 5, which lifted shares of Nokia (NYSE: NOK).
A Seeking Alpha contributor listed Alpha Natural Resources (NYSE: ANR) as a stock under $7 with the potential to double.
On the downside
Investors locked in profits on National Bank of Greece (NYSE: NBG), whose stock price rose yesterday on Germany's support of the euro zone bailout fund. Motley Fool wrote that Zynga (Nasdaq: ZNGA) needed to change its business model in order to survive.
An appeals court ruled against Chesapeake Energy (NYSE: CHK) and let stand a $19.7 million judgment against the natural gas and oil company.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 8 points to 853.
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