1:00pm (EST)
The bulls returned from the long weekend in a buying mood thanks to easing concerns about European governments’ debt loads and improving conditions in New York manufacturing.
Greece’s Finance Minister said his country is cutting its deficit and won’t require a bailout from the European Union but that remains to be seen.
The Empire State manufacturing index rose to 24.91 this month, compared with a forecast of 18. The index was 15.92 last month.
As a result, Dow is currently up 116 points, or 1.1%, to 10,215. The Nasdaq has climbed higher by 21 points, or 1%, and is at 2,204 while the S&P has gained 14 points and is at 1,089, up 1.3%.
Kraft Foods (KFT, $28.57, down $0.42) is the only Dow stock we see in the red after failing to impress Wall Street. The company reported fourth-quarter revenue slightly below analysts’ expectations.
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