Market Summary 7/22/2010

Stock Market Closing Prices – 7/22/10

Dow ( DJIA ) Close - 10322.30 -201.77
Nasdaq Close - 2245.89 -58.56
S&P 500 Close – 1093.67 0.00

Commodities Closing Prices – 7/22/10

Gold Close - 1193.80
Oil Close – 79.05
Natural Gas – 4.63

The Dow jumps 202 points.
Stocks rallied Thursday after better-than-expected earnings and forecasts from 3M, Caterpillar, AT&T and UPS helped reassure investors about the pace of the economic recovery.

After the market close, MSFT reported higher quarterly sales and earnings that topped estimates. However, Amazon.com shares plunge after earnings miss estimates.

The rally pushed the major averages well above their simple 50-day moving averages, a key measure of investor confidence, but none have been able to move above their 200-day averages, which would be a very bullish signal. Moreover, the S&P 500 has been unable to move above 1,100 since June 22.

Crude oil jumped $2.74 a barrel, or 3.6%, to $79.30, its biggest one-day gain since February.
Market Breadth was positive. On the New York Stock Exchange, where volume came to 1.18 billion shares. On the Nasdaq, volume came to 2.28 billion shares

Economic Calendar Data - 7/23/10

European bank stress test results expected. 11 a.m.
Ford to report quarterly results. Before market open.
McDonalds to report quarterly results. Before market open.
Verizon to release quarterly results. Before market open.