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Stocks close with solid gains after yesterday’s tumble


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Major indices rebound 1.3%

The major indices shrugged off the sharp fall yesterday, and although the price action saw earlier gains retrace toward unchanged, an afternoon rally took the price back up.  The indices all closed near the highs with gains of 1.2% or more in the major indices.
A look at the numbers show:

  • S&P index, up 37.03 points or 1.30% at 2881.
  • Nasdaq index up 107.22 points or 1.39% at 7833.26
  • Dow up 311.78 point or 1.21% at 26029.52

After the close Disney reported disappointing earnings, missing on the top and bottom line (EPS 1.35 vs $1.72 est.  Revenues were at $20.25B vs $21.46B estimate).  Disney shares closed up $3.57 at $141.87. It is trading at $136.30 currently in after hours trading. 
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