Stocks closed higher today as news that leaders of France and Germany agreed on a European debt plan that they claim would restrict future deficits while protecting the euro zone from future financial crises. The plan would require a new treaty signed by all 17 nations using the euro and leaders would like the entire 27 country EU to sign it. Stocks came off their session highs in late trading though after Standard & Poor’s put the top 6 euro zone countries on credit watch negative. This means there is a 50% chance of a downgrade within the next three months. The Dow ended the day up 78 points, the Nasdaq was up 28 points and the S&P was up 12 points.
Here’s a quick look at stocks that followed the market higher today.
Sino Clean Energy Inc. (NASDAQ:SCEI) closed the day up 27.27% at $1.40 with an intraday high of $1.47. SCEI traded 1.3 million shares today, well above its daily average of 242 thousand shares. Sino is up today after trading slightly lower the previous four trading sessions. Sino Clean Energy has a market cap of 32.96 million.
Zoom Technologies, Inc. (NASDAQ:ZOOM) closed Monday up 24.39% at $1.53. ZOOM traded 1.6 million shares today, way above its daily average of 191 thousand shares. ZOOM has been rising steadily for the past four trading sessions now and moved from $0.80 to $1.53 in that time period. Zoom has a current market cap of 34.14 million.
Affymax, Inc. (NASDAQ:AFFY) closed the day up 19.24% at $6.26. AFFY traded 4.2 million shares today, five times its daily average volume. AFFY is up today after the FDA gave a favorable review to the company’s experimental anemia drug. Affymax has a market cap of 223.67 million.
iStar Financial Inc. (NYSE:SFI) closed the day up 16.70% at $6.22. SFI traded 2.1 million shares today, nearly double its daily average volume. SFI has been trending higher over the past week with big intraday moves every day. iStar Financial has a current market cap of 509.52 million.
Bank of America Corporation (NYSE:BAC) finished Monday up 2.66% at $5.79. BAC traded 290 million shares today, 20 million shares more than its daily average. BAC has been trending higher over the past week now since borrowing rates for banks were reduced last week. Bank of America has a current market cap of 58.69 billion.
Citigroup, Inc. (NYSE:C) closed up 5.89% today at $29.83. C traded 80 million shares today, well above its daily average volume of 56.9 million shares. C has been trending higher along with most banking stocks after last week’s rally. Citigroup has a market cap of 87.21 billion.
Morgan Stanley (NYSE:MS) closed Monday up 6.77% at $16.57. MS traded 66 million shares today, nearly double its daily average. MS continues to rally with the market as investors are hopeful for a solution in Europe soon. MS is up more than $3 in the past week of trading. Morgan Stanley has a current market cap of 31.94 billion.