Dow jumps 172 on IMB's strong earnings

[I-luvmoney]

Dow jumps 172 on IBM's strong earnings

Big Blue's earnings boost tech stocks and the overall market. Citigroup may write down $24 billion and cut its dividend 50%. Schering-Plough and Merck fall on bad news about cholesterol drugs Vitorin and Zetia. Gold closes above $900 for the first time.




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Stocks jumped today thanks to a surprise bit of good news from IBM Corp. (IBM, news, msgs), but it wasn't clear how long -- or if -- the rally will continue.
The Dow Jones industrials closed up about 172 points, or 1.4%, to 12,778. The Nasdaq Composite Index jumped 38 points, or 1.6%, to 2,478, and the Standard & Poor's 500 Index was up 15 points, or 1.1%, to 1,416.

read here http://articles.moneycentral.msn.com...14markets.aspx