A surge in consumer spending sent the markets soaring during the midday with the Dow leaping 159 points to 13,405. Nasdaq jumped 34 points to 2675.
On the upside
Shares of Netsuite (NYSE: N) continued to surge after making its market debut yesterday.
On the downside
Shares of Genitope (Nasdaq: GTOP) continued to fall by tumbling to an all time low after a failed drug trial for its cancer vaccine MyVax.
McCormick & Schmick's Seafood Restaurants (Nasdaq: MSSR) blamed weak traffic for lowering both its fourth qaurter as well as its full year outlook.
Jabil Circuit (NYSE: JBL) forecast second quarter earnings below analyst estimates.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 13 points to 780.