Stocks rallied, , as investors welcomed upbeat reports on economic activity around the world. On Tuesday, a report showed U.S. manufacturing activity grew at a faster rate in December. But traders say the market is vulnerable to concerns about the debt crisis in Europe, which has been the main driver of stock prices for several months. Oil prices surged more than 4%. Cisco inched lower in after hours trading, down 0.2% after a 3.4% rise in the regular session. J.P. Morgan analyst Ron Hall raised his rating on the networking-equipment company to overweight from neutral. Bullish sentiment prevails.
Wednesday, January 4, 2012
Jumped on strong data
Stocks rallied, , as investors welcomed upbeat reports on economic activity around the world. On Tuesday, a report showed U.S. manufacturing activity grew at a faster rate in December. But traders say the market is vulnerable to concerns about the debt crisis in Europe, which has been the main driver of stock prices for several months. Oil prices surged more than 4%. Cisco inched lower in after hours trading, down 0.2% after a 3.4% rise in the regular session. J.P. Morgan analyst Ron Hall raised his rating on the networking-equipment company to overweight from neutral. Bullish sentiment prevails.
