Crude Bubbles, Stocks Mixed, Commodities Explode

Crude oil bubbled up today, rising for the third straight day. The CRB Commodity Index exploded up for the biggest weekly gain in over 30 years, rising 3.3% midday. Stocks followed, closing mixed with the DJIA adding +11.40 to 11428.83, the Nasdaq slipped back -8.70 to 2380.38 and the S&P 500 advanced +3.10 to 1277.66. This final positive result was realized after an earlier sell off.

Chevron (CVX | Quote | Chart | News | PowerRating) led the DJIA higher with a gain of 2.42% or $2.09 to $88.55/share as the oil company benefited from surging oil prices.

Dick's Sporting Goods (DKS | Quote | Chart | News | PowerRating) advanced 14.43% or $2.64 to $20.93/share as projected full year earnings beat analysts estimates.

HotTopic (HOTT | Quote | Chart | News | PowerRating) this former day trader favorite teen retailer had its biggest decline since January, 2007 with August sales being less than expected. It closed down 17.90% or $1.23 to $5.64/share in reaction to the news.

Bally Tech. (BYI | Quote | Chart | News | PowerRating) climbed 8.11% or $2.54 to $33.87 per share after the gambling machine maker reported a stunning 69% fourth quarter profit increase.

Gold climbed $24.30 to $840.60/oz on a falling dollar and general bullish commodity environment today, The US Dollar fell against the Euro and Natural Gas added .23 cents to $8.31.

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