DJIA / Market Close for Wednesday, April 25, 2012

The Dow closed up +89.16 (+0.69%) at 13,090.72.

The Dow, S&P 500, Nasdaq and Russell 2000 all rallied right out of the gate, on the back of stronger-than-expected financial results, then pulled back slightly leading up to Bernanke’s news conference. Indices regained momentum after the Fed chief said that the central bank remains “entirely prepared to take additional balance sheet actions should the economy require additional support.” The Fed was also more positive with its outlook, boosting its economic growth projection for the year and lowering its unemployment rate target.

The Fed also left its key interest rate unchanged near zero and reiterated that low rates are likely to remain through late 2014.

Apple (AAPL) popped nearly 9% to make it one of the biggest gainers on both indexes Wednesday. The world’s most valuable company reported that its net income nearly doubled, on much stronger-than-expected iPhone sales.

The big Dow gainers today were BA (+5.29%), AXP, DD, INTC, IBM, AA and HPQ. There were 6 Dow losers today led by CAT, WMT, GE, JPM, VZ and UTX.

The dollar fell against the euro, but rose versus the Japanese yen and British pound.

Oil for June delivery was up 57 cents to settle at $104.12 a barrel.

Gold futures for June delivery fell $1.50 to settle at $1,642.30 an ounce.

The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 1.99% from 1.96% late Tuesday.

Notable stocks expected to report earnings tomorrow before the open include ABG, AET, ALU, AUO, ABC, AZN, AVT, BLL, BMS, BMY, BWA, BG, CAM, CL, CME, CNX, D, DB, DOW, XOM, GR, HOT, HP, JBLU, K, LLL, LMT, MJN, MO, MYL, NBL, PCS, PCX, POT, OXY, OSK, RS, RTN, SWY, TSM, TS, UPS, WHR, WM and ZMH.

New High of the Day – PNC Financial (PNC).

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