Optimism that the Chinese government may act to further stimulate its economy lifted the markets during the midday with the Dow climbing 98 points to 12,520. Nasdaq gained 26 points to 2737.
On the upside
Maxim Group analyst Aaron Chew expects solar demand to climb in China for 2012 and noted that Yingli Green Energy (NYSE: YGE) will have an advantage over its rivals because it owns a polysilicon plant.
Ku6 Media (Nasdaq: KUTV) entered into a partnership with YouTube that will allow Ku6 users to view original videos from China through a new YouTube channel.
On the downside
R. R. Donnelly & Sons (Nasdaq: RRD) forecast 2011 revenue below analyst expectations.
MGIC Investment (NYSE: MTG) will release fourth quarter results before market open on Tuesday, January 24, 2012.
Second quarter earnings rose for New Oriental Education & Technology (NYSE: EDU) but the results fell short of expectations and the private educational services provider forecast current quarter revenue below estimates.
In the broad market, advancing issues outpaced decliners by a margin of 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 769.