Here's the closing comments by Briefing.com tonight. Another good day today - a pretty good synopsis of what is driving the market.
<<Close Dow +63.41 at 10592.44, Nasdaq +22.57 at 2100.25, S&P +5.59 at 1131.91: [BRIEFING.COM] The market spent the entire session in positive territory, ending near its best levels of the day and at new 52-week closing highs... The favorable bias was supported by a batch of favorable corporate news, as same store sales for December checked in generally better than expected, while multiple companies including the likes of Nokia (NOK 20.46 +2.49) and Procter & Gamble (PG 99.13 +1.03), provided upward guidance... On the economic front, the Initial Claims report checked in at 353K (consensus 345K), bringing the 4-week average down to 350K from 356K and continuing to point to a stabilizing employment market... With Alcoa's (AA 38.68 +0.48) earnings slated for later today, the market has turned its eyes to the upcoming January reporting season... Wall Street expectations are for Q4 operating earnings growth of 22%, while Briefing.com looks for an even stronger number... Please see The Big Picture brief for more perspective... The bulk of the sectors ended the session in positive territory, with leaders of note to the upside including the hardware, networking, semiconductor, telecom, communications equipment, electronic manufacturing, and oil & gas services sectors... Among the notable laggards were the homebuilding, airline, home improvement retailing, department store, insurance, and application software groups... Elsewhere, the bond market was little changed, with the 10-year note down -3/32, bringing its yield up to 4.25%... NYSE Adv/Dec 2033/1254... Nasdaq Adv/Dec 1996/1221.>> |
