Friday, November 11, 2011

Dow rises above 12,000 again

Dow is up a very big 277, advancers ahead of decliners 8-1 & NAZ rose 51.  Bank stocks are leading the way with the Financial Index up  4+ to the 178s.  MLPs, REITs & junk bond funds are doing well.

Get the latest market update below:

The Thomson Reuters/University of Michigan preliminary index of consumer sentiment rose to 64.2 for Nov from a final reading of 60.9 in Oct & was projected to rise to 61.5.  This report compares with the Bloomberg Consumer Comfort Index, which rose to minus 51.6 in the week ended Nov 6. The previous week’s reading was minus 53.2, the 2nd-lowest in almost 26 years of data.  These messages are the usual mixed readings we have been getting in recent months.

U.S. Michigan Consumer Sentiment Index Rises

Stocks are doing quite well on this semi holiday, hard to read too much into this rally.  European finances remain a mess & the spotlight on the super committee in DC is shining.  Next week will be the test to see if this rally has legs.

Dow Industrials (INDU)

stock chart

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