Wall Street Addict

Stocks surged in early trading Tuesday, as strong earnings from General Motors Corp. and Sun Microsystems Inc. helped Wall Street extend its recovery from last week's plunge. The Dow Jones industrial average shot up more than 100 points.
Investors' inflationary fears were also alleviated after the Commerce Department reported that year-over-year core personal consumption expenditures -- one the Federal Reserve's preferred gauges of inflation -- rose 1.9 percent. That rate is within the Fed's comfort zone.
The core PCE appeared to offset some disappointment that June personal spending rose 0.1 percent, weaker than expected and below May's 0.6 percent jump. U.S. consumers spent at the slowest pace in nine months due to high gasoline prices and the housing market slump.
In the first minutes of trading, the Dow Jones industrial average rose 102.74, or 0.77 percent, to 13,461.05.

Labels: GM, SUNW