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Daily Wrap: 3/8/2011 Tuesday, March 8, 5:12 PM ET Stocks turned higher today, on the news that OPEC oil producers are considering an increase in output.
Higher fuel prices didn't stop consumers from heading to the stores. Chain store sales rose 2.6 percent for the week ended March 5th, compared to last year,
according to the International Council of Shopping Centers and Goldman Sachs.
Sales rose 2.3 percent week over week.
In earnings news, alcoholic beverage maker Brown Forman (BF.A, BF.B) posted a 30 percent increase in 3rd quarter earnings.
Shares of software company Broadsoft (BSFT) are surging today after a very positive 4th quarter earnings report yesterday.
Urban Outfitters (URBN) reported a 4th quarter earnings miss, as did Casey's General Stores (CASY) for it's 3rd quarter.
Among the gainers today were bank stocks, including Bank of America (BAC) and JPMorgan (JPM).
McDonalds (MCD) shares are trading down today, despite same store sales for February that beat expectations.
For MarketNewsVideo.com, I'm Sayoko Murase.
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