The Nasdaq Composite Index ($COMPX) crossed above the 2,000 level for the first time since October as stocks surged this morning.
At 11:40 a.m. ET, the Nasdaq was up 32 points, or 1.6%, to 2,000. The Dow Jones Industrial Average ($INDU) was up 158 points, or 1.7%, to 9,229, and the Standard & Poor's 500 Index ($INX) had gained 19 points, or 1.9%, to 994.
All 10 industry groups in the S&P 500 moved higher today.
" General Electric is upgraded
GE was upgraded to "buy" from "neutral" this morning at Goldman Sachs. Goldman also raised its price target to $15 from $13.
The analyst said the upgrade was based on comments from U.S. House Financial Services Chairman Barney Frank, D-Mass., late Wednesday indicating increasing support for regulatory reforms that would not force GE to spin off its GE Capital business. There is now only a 25% chance of GE having to separate that unit, down from a previous forecast of a 50% chance. Goldman said it estimates a separation could cost shareholders $40 billion." - Elizabeth Strott