Wells Fargo Lifts Stocks

By Kevin Spak,  Newser Staff
Posted Apr 9, 2009 8:45 AM CDT
Wells Fargo Lifts Stocks
Traders work on the floor of the New York Stock Exchange in New York, Wednesday, April 8, 2009.   (AP Photo/Seth Wenig)

Stocks soared at the open today, thanks to Wells Fargo’s announcement that it expects record first-quarter earnings, the Wall Street Journal reports. The Dow climbed 150 points, while the Nasdaq added 1.8% and the S&P jumped 2.3%. Wells Fargo was up more than 20%. A sterling jobs report didn’t hurt, either; initial jobless claims dropped 20,000 last week, the biggest drop this year, and twice what the Street expected. (Read more stock market stories.)

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