US markets rally

CNBC's Margaret Brennan - The Dow saw its first gain in 3 days shooting up 189 points on Thursday. The NASDAQ posted its biggest gain in a month, up 67 points. One stand out in the Tech sector was Symantec, the security software company posted a sharp rise in 4th quarter profit due to strong sales and that led to a 12% gain in the stock lending strength to the over all technology sector.

Crude oil prices declined for the 3rd straight day due to the strength in the US dollar. Oil closed at USD 112.58/bbl. Those recent record highs though did help Exxon Mobil; it posted a 17% rise in Q1 net income; analysts who were expecting bigger gains which is why shares lost more than 3% of their value in Thursday’s session. 

High oil prices are hurting sales of gas guzzling SUV’s though adding to the list of problems for the US auto industry, General Motors, Ford and Chrysler, posted double digit drops in their auto sales. Ford gained while GM sales closed off fractionally on the session.

Financial stocks finished strong on Thursday with Lehman gaining 6%, Citi and Bank of America posting a 4% rise.

The world’s biggest home improvement retailer wants to do more with less. Home Depot announced plans to close 15 stores nationwide and cancelled plans to open 50 new stores as it tries to rebound sales that have been hurt by the weak housing market; Shares of Home Depot and Lowe’s gained in the session.