Stocks managed to rally today on rising commodity prices. Oil was trading above $100 per barrel, bringing energy stocks up as well. ExxonMobil (NYSE:XOM) was higher by 1.5% today, leading the major oil companies today.
The debt crisis continues in Europe with Greece reportedly failing to agree on how to manage the country's problems. And across the Pacific, Japan's government reported that it's exports fell by 12.5% in April as a result of the earthquake in March that devastate the country.
As for company news, retailers Polo Ralph Lauren (NYSE:RL) and Costco (NASDAQ:COST) both disappointed investors with lower than expected quarterly results. Polo Ralph Lauren was lower by more than 9%, while Costco fell 0.8%.
It was a different story for a couple of media and entertainment companies. Both Take Two Interactive (NASDAQ:TTWO) and Tivo (NASDAQ:TIVO) were up sharply today on strong quarterly earnings results. Take Two gained 4.2% on Wednesday, while Tivo jumped 7.7% today.
Tomorrow traders will be looking for news regarding the US gross domestic product and earnings from HJ Heinz (HNZ), Marvell Technology (NASDAQ:MRVL) and Tiffany (NYSE:TIF).
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