Dow rose 172, advancers 5-1 ahead of decliners & NAZ jumped 40. The Financial Index gained 2+ to 213. The MLP index rose 2+ to the 394s & the REIT index was up 2+ to 259. Junk bond funds were higher, following the rise in stocks, & Treasuries eased back a tad. Oil & gold each had a good day
![Live 24 hours gold chart [Kitco Inc.]](http://www.kitco.com/images/live/gold.gif)
Research in Motion jumped 14%, following an 18% gain in Toronto yesterday on rising optimism over BlackBerry’s newest smartphones. Its shares had their biggest gain in more than 3 years yesterday after National Bank Financial lifted its price target for US shares to $15 from $12, saying new BlackBerry 10 sales should be better than expected. That followed another report this week that said chances are improving that the new BlackBerry 10 smartphones will revive sales when they hit stores in Feb. RIMM could ship about 35.5M BlackBerry 10 units next fiscal year, according to the estmiate by National Bank, up from a previous estimate of 31.6M. Most analysts had expected sales to start in Mar. This is based on the “positive sentiment building in the industry.” But here are skeptics & next year remains far away in this business. The stock climbed $1.40 to $11.66 in today's shortened session. Techs were strong today as Apple (AAPL) was up almost $10.
RIM Jumps in U.S. Trading After Toronto Surge Yesterday
Photo: Bloomberg
Israeli troops fired on Palestinians near Gaza, in an incident Hamas said left one dead & 25 injured, leading to accusations from both sides that a 2-day-old cease-fire was breached. Palestinian farmers were shot at on land they own near the Israel-Gaza border, said a spokesman for the Hamas-run Ministry of Health in Gaza. An Israeli army spokeswoman said that the Palestinians breached the cease-fire by hurling stones & trying to damage the fence, “Hamas hasn’t decided to respond to the Israeli breaching of the agreement, but we hope that such violations won’t be committed again,” The shooting is the most serious episode of violence since Egypt brokered the cease-fire, announced late on Wed after 8 days of airstrikes & missile fire. Oil prices rose on this news.
Israeli Troops Fire on Palestinians at Gaza Border Fence
The markets had an outstanding day, but there are many doubters. Volume in the shortened trading day was light. It only takes a few orders to produce a big move. Macro issues like the fiscal cliff, the euro debt mess along with recession & slower growth in China's economy are still here. But Dow hasn't been this high since Mon 7, making the bulls feel good. The RIMM story suggest that speculators are feeling good, not a positive sign for a sustained rally.
AMJ (Alerian MLP Index tracking fund)
| CLF13.NYM | ...Crude Oil Jan 13 | ....88.28 | ... 0.90 | (1.0%) |
Research in Motion jumped 14%, following an 18% gain in Toronto yesterday on rising optimism over BlackBerry’s newest smartphones. Its shares had their biggest gain in more than 3 years yesterday after National Bank Financial lifted its price target for US shares to $15 from $12, saying new BlackBerry 10 sales should be better than expected. That followed another report this week that said chances are improving that the new BlackBerry 10 smartphones will revive sales when they hit stores in Feb. RIMM could ship about 35.5M BlackBerry 10 units next fiscal year, according to the estmiate by National Bank, up from a previous estimate of 31.6M. Most analysts had expected sales to start in Mar. This is based on the “positive sentiment building in the industry.” But here are skeptics & next year remains far away in this business. The stock climbed $1.40 to $11.66 in today's shortened session. Techs were strong today as Apple (AAPL) was up almost $10.
RIM Jumps in U.S. Trading After Toronto Surge Yesterday
Research in Motion (RIMM)
Photo: Bloomberg
Israeli troops fired on Palestinians near Gaza, in an incident Hamas said left one dead & 25 injured, leading to accusations from both sides that a 2-day-old cease-fire was breached. Palestinian farmers were shot at on land they own near the Israel-Gaza border, said a spokesman for the Hamas-run Ministry of Health in Gaza. An Israeli army spokeswoman said that the Palestinians breached the cease-fire by hurling stones & trying to damage the fence, “Hamas hasn’t decided to respond to the Israeli breaching of the agreement, but we hope that such violations won’t be committed again,” The shooting is the most serious episode of violence since Egypt brokered the cease-fire, announced late on Wed after 8 days of airstrikes & missile fire. Oil prices rose on this news.
Israeli Troops Fire on Palestinians at Gaza Border Fence
The markets had an outstanding day, but there are many doubters. Volume in the shortened trading day was light. It only takes a few orders to produce a big move. Macro issues like the fiscal cliff, the euro debt mess along with recession & slower growth in China's economy are still here. But Dow hasn't been this high since Mon 7, making the bulls feel good. The RIMM story suggest that speculators are feeling good, not a positive sign for a sustained rally.
Dow Jones Industrials
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