U.S. blue chip stocks snapped back in the green
U.S. blue chip stocks snapped back in the green though the NASDAQ comp is now mostly flat after lagging the upswing. The VIX equity volatility index is off 27% to 21.85, continuing to pull back from highs of 50.30 yesterday, though it's not clear whether tail (VIX) is still wagging the dog (stocks) or the other way around. The Dow and S&P are roughly 0.7% firmer, while the NASDAQ is now up 0.25%. Europe has redoubled gains as well, with the Euro Stoxx 50 1.5% firmer, the UK FTSE 100 +1.9% and the German DAX +1.4% after the coalition talks breakthrough. Within the Dow the top gainers are Boeing +2%, Wal-Mart +1.7% and Merck +1.7%, while on the downside are IBM -0.7%, Apple -0.6% and Microsoft -0.5%.