Stocks surged, as optimism ahead of a weekend European Union summit, the past days’ economic data, and McDonald’s upbeat earnings triggered buying momentum. General Electric fell 1.9%, after the co. reported in line with estimates, and analysts noted a slower growth in industrial orders. Tech stocks closed mostly in the green, propelled by gains from Seagate Technology, SanDisk and Altera. Altera issued a softer-than-anticipated guidance, but Citigroup speculated that the company was being conservative as he advised clients to “buy the current pullback. This week investors will focus on European headlines as officials hold crucial meetings on measures to avoid a spiralling sovereign-debt crisis. In U.S. economic data, the Conference Board’s and the University of Michigan’s October consumer-confidence surveys are slated for Tuesday and Friday respectively. Also, the quarterly U.S. GDP report on Thursday is expected to grow 3% in the third quarter — the strongest performance in five quarters, led by a rise in consumer spending. Implied volatility inched lower on moderate volumes. NEAREST RESISTANCE LEVELS:
NEAREST SUPPORT LEVELS: 57.0, 56.8,
