Stocks rallied as a second day of testimony from Ben Bernanke signaled to lawmakers that the central bank's easy money policies would remain in force. Investors also welcomed the data showing pending home sales rose in January to the highest level since April 2010. Durable goods orders dropped 5.2%, in January, a steeper decline that the decrease of 3.5% projected. Groupon jumped 7.8% ahead of fourth-quarter results, however, its shares plunged more than 20% in the evening trade after the co. widely missed forecasts and said sales in the current quarter would fall short of estimates. Priceline climbed 2.6% in the wake of the company’s late-Tuesday upbeat quarterly results. Apple lost 0.98% after its shareholders did not vote on a controversial proposal that would have limited the company's ability to issue preferred stock. The CBOE Volatility Index fell 13% to 14.73.Thursday, February 28, 2013
Extended gains
Stocks rallied as a second day of testimony from Ben Bernanke signaled to lawmakers that the central bank's easy money policies would remain in force. Investors also welcomed the data showing pending home sales rose in January to the highest level since April 2010. Durable goods orders dropped 5.2%, in January, a steeper decline that the decrease of 3.5% projected. Groupon jumped 7.8% ahead of fourth-quarter results, however, its shares plunged more than 20% in the evening trade after the co. widely missed forecasts and said sales in the current quarter would fall short of estimates. Priceline climbed 2.6% in the wake of the company’s late-Tuesday upbeat quarterly results. Apple lost 0.98% after its shareholders did not vote on a controversial proposal that would have limited the company's ability to issue preferred stock. The CBOE Volatility Index fell 13% to 14.73.
