How is the stock market today
? Stocks are sharply higher in mid-day trading, with all three major indexes near session highs. Stocks are gaining despite ongoing worries about the euro zone debt crisis.
Earlier today, Fitch Ratings downgraded the long-term ratings of 18 Spanish banks. Meanwhile, yields on 10-year Spanish bonds hit a euro-era high of 6.807%.
Despite the developments in the euro zone, stocks are firmly in green. At last check, the Dow Jones was trading 0.81% higher at 12,511.17, the S&P 500 was trading 0.70% higher at 1,318, and the Nasdaq was trading 0.79% higher at 2,831.86.
The gains in the S&P 500 are being led by Basic Materials sector, which is currently trading 1.14% higher. Energy sector is also up sharply in trading today. At last check, the sector was trading 0.87% higher. Financials are currently trading 0.74% higher, while Industrials are currently trading 0.82% higher. Technology sector is currently trading 0.76% higher.
Among the major gainers and losers in mid-day trading are Ramtron International (NASDAQ: RMTR), which is currently trading 33.70% higher at $2.42, Michael Kors Holdings Ltd. (NYSE: KORS
), which is currently trading 2.72% higher at $39.22, FactSet Research Systems Inc. (NYSE: FDS
), which is currently trading 9.69% lower at $94.44, Chart Industries Inc. (NASDAQ: GTLS
), which is currently trading 3.20% higher at $63.85, Garmin Ltd. (NASDAQ: GRMN
), which is currently trading 2.92% higher at $39.31, Harman International Industries Inc. (NYSE: HAR), which is currently trading 9.11% lower at $34.54, and A123 Systems Inc. (NASDAQ: AONE), which is currently trading 49.04% higher at $1.55.
On the economic front, a report released earlier today showed that import prices fell the most in nearly two years in the month of May as energy and food prices dropped 1%. Export prices, meanwhile, fell 0.4% in May, the report showed.
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