An uptick in consumer spending lifted the markets to a sharply higher close with the Dow surging 150 points to 11,187 just before the all-important holiday shopping season. Nasdaq leaped 48 points to 2543.
On the upside
China Digital TV (NYSE: STV) on Monday declared a special cash dividend of $2.00 per share payable in two installments in 2011 to shareholders of record December 23, 2010.
The busiest travel day of the year progressed smoothly with few delays to lift shares of American Airlines parent AMR (NYSE: AMR).
Borders (NYSE: BGP) announced Black Friday deals beginning today, November 24, through Sunday, November 28.
Raymond James analyst Budd Bugatch lifted his fourth quarter earnings guidance for Cost Plus (Nasdaq: CPWM).
On the downside
Investors locked in profits on Hewlett-Packard (NYSE: HPQ), which announced better than expected fourth quarter earnings yesterday.
LJ International's (Nasdaq: JADE) new marketing campaign for its colored gemstones failed to inspire investors.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks jumped 16 points to 736.
