U.S. stocks open sharply higher Wednesday. Wall Street followed a 7.7 percent gain in Japan's Nikkei Stock Index, the biggest percentage gain since October 2008. The rally in Asia came after China made moves to stimulate its economy, namely cutting taxes on corporate dividends. McDonald's (MCD) says it will use eggs from only cage free hens but the transition could take up to 10 years. McDonald's uses some 2 billion shell and liquid eggs every year, or about 4 precent of the eggs produced in the United States. Citigroup (C) says the worst may not be over for the world economy. Citigroup's chief economist Willem Buiter said there is a 55 percent chance of some form of global recession in the next couple of years, with China leading the slump. Fairchild Semiconductor (FCS) lowered its 3rd quarter sales outlook. GlaxoSmithKline (GSK) inhaler treatment for lung disease failed to show longer life in patients. Celanese (CE) announced a $1 billion stock buyback.
More from Video
One Tweet Pulls the Rug Out From Under the Indexes
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
A Technical Look at the New Dow Jones Industrial Average
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Is Renewable Energy the Defensive Stock Opportunity You're Missing
AMSC CEO discusses that and China challenges.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.