Stocks rose on the strength the dollar. Dow was up 97, advancers ahead of decliners 2-1 & NAZ was up 29. The rising dollar eased some inflation worries bringing out buyers for stocks. The worry is that a weak dollar can lead to higher inflation. Of course changes in the values for the dollar are minor, but that theory sounds good. The yen is still around 103 to the dollar while the Euro is in the 1.54s, little changed from values in the last couple of weeks. Oil went over 126 then pulled back but it still is in the 125s, hardly a significant change. Last week was an exceptional week for oil as it rose 10.
Research in Motion (RIMM) rose to a new all-time high following the announcement of the Bold, its first major new BlackBerry model in over a year. The stock is up almost 8 to 140 helping give the NAZ a nice lift.
A lot of macro economic reports will be released this week which could bring more volatility. The VIX, volatility index, had been living over 20 (extremely high territory) for about 8 months. Now it has pulled back to under 19. That should be helpful to the market unless it kicks back up over 20.
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