November Construction Spending Jumps, Markets Soar

November construction spending jumped to lift the markets to a sharply higher close with the Dow surging 179 points to 12,397. Nasdaq soared 43 points to 2648.

On the upside

Bargain hunters lifted shares of A123 Systems (Nasdaq: AONE), whose stock price fell last week after a battery defect prompted Fisker to recall 239 Karma electric sports cars.


Rising crude oil prices lifted shares of oilfield services firm RPC (NYSE: RES).

Shares of U. S. Gold (NYSE: UXG) rose as gold prices climbed.

On the downside


The Denver Business Journal listed Pilgrim's Pride (NYSE: PETD) as one of ten Colorado stocks that rebounded last year but the stock price fell.


Citigroup analyst Gary Taylor cited possible cuts in government funding for issuing a negative outlook on hospital stocks sending shares of Kindred Healthcare (NYSE: KND) lower.

Telestone Technologies (Nasdaq: TSTC) lowered its full year revenue guidance.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 11 points to 752.

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