Singapore public holidays 201 of the 197 companies in the S&P 500 that reported earnings results since Apr 11 have beaten analysts' estimates, and (5) a friendlier environment for stocks as Renaissance Capital LLC reported that at least 31 US companies have announced plans for IPO's this month, the most since Aug 2007.Bearish factors for stocks included (1) comments from Fed Chairman Bernanke that he expects a "relatively weak" Q1, (2) the action by the Fed to cut its growth forecast for the US economy this year to 3.1% to 3.3% from a Jan forecast of 3.4% to 3.9% and to raise its core inflation estimate for this year to 1.3% to 1.6%, higher than a Jan estimate of 1.0% to 1.3%, and (2) concern the European sovereign-debt crisis may worsen after credit-default swaps to insure the government debts of Greece, Portugal and Ireland all rose to recordConstellation Energy Group (CEG) jumped 7.9% in European trading after Exelon agreed to buy the company for $7.9 billion, or $38.59 a share.
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