The major indices rebound to their best levels, with the Dow crossing
into positive territory. A surge in financials (+1.8%) is driving the
recovery effort. Eight of the ten sectors remain in the red.
The energy sector (-1.0%) is struggling, even as crude oil climbs 1.8%
to $136.70 per barrel. There are some pockets of strength though.
Shares of XTO Energy (XTO 69.97, +2.25) surged to an all-time high
after the company announced that it will buy privately-held Hunt
Petroleum for $4.2 billion in cash and stock.
Dow component Coca-Cola (KO 57.82, +1.96) is up 3.6% after being
upgraded to Buy from Hold at Deutsche Bank. Deutsche believes the
international side of the company will drive higher volumes.