The market's on a 3 day winning streak, longest in this short year. The Dow is up 400 points in 3 days but volume has been lagging behind indicating a lack of conviction. Today Dow was up 178, advancers over decliners 2-1 & NAZ was up a big 54 points. The rise in retail sales for Jan was probably the single biggest reason for today's gains. The President signed the economic stimulus package hoping the $168B will help the economy. Tomorrow, the Fed Chairman will testify on the economy & the slump it's in before a congressional committee.
Yahoo (YHOO) will fight the takeover attempt from Microsoft (MSFT) by forming an alliance with News Corp (NWS). The stocks were little changed on the news largely because details still have to be announced. The buyout offer has stimulated buying other stocks today in NAZ
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