Stocks posted large gains today with the Dow reclaiming 15,000 and posting its 15th 100-point move this month. Markets were lifted in part by speeches from several Fed policymakers. There was also encouraging economic data. The Commerce Department says personal income rose 0.5% for May when expectations were for 0.2%. The same report says consumer spending increased 0.3% for the month, matching estimates. Separately, the Labor Department says weekly jobless claims dropped by 9,000 to 346,000; just about in line with estimates. Meanwhile, the National Association of Realtors says pending home sales hit a six-year high in for May with a climb of 6%.
ConAgra (CAG) popped today as much as a bag of its Orville Redenbacher popcorn. Shares moved up 5% on quarterly earnings. Results for the food conglomerate were pretty much in line with estimates. Adjusted earnings per share came in a penny above consensus at 60-cents. Revenues, on the other hand, were slightly under expectations at $4.6Read More »from Fed Speak and Econ Data Lift Dow Back Above 15,000