The first trading day of 2012 started strong with the Dow leaping 248 points to 12,465 as investors embraced indications that the Chinese economy may be improving. Nasdaq soared 57 points to 2662.
On the upside
Trefis affirmed its $7 price target on Nokia (NYSE: NOK) in anticipation of the launch of the company's Lumia 710 smartphone in the U. S. on January 11.
Motley Fool writer Matt Koppenheffer listed Arcelor Mittal (NYSE: MT) as one of three stocks expected to post strong gains in 2012.
Motley Fool expects STMicroelectronics (NYSE: STM) to experience a high five year growth rate.
On the downside
MGIC Investment (NYSE: MTG) added $200 million to its insurance unit Mortgage Guaranty in order to continue writing new policies.
In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 17 points to 758.