Tuesday, December 1, 2009

FusionIQ Market Wrap for 12/1/09-Stocks start month on the plus side...

U.S. stocks rose, sending the Dow Jones Industrial Average to a 14-month high as Chinese manufacturing grew at the fastest pace in five years and Dubai World said it’s in talks to restructure less than half its debt.    The news helped give a lift to global indices and caused currency traders to step away from the greenback. With the dollar drooping again, the Dollar Index returned to 52-week lows before paring losses to finish with a 0.5% loss.  The pullback in the greenback stirred broad interest in both equities and commodities. That combination proved particularly beneficial for materials stocks and energy stocks, which finished with respective gains of 1.6% and 1.4%.  Materials stocks were led by gold plays, which advanced 3.8% as gold prices climbed to a new record high near $1204 per ounce before they closed pit trade with a 1.5% gain at $1200.20 per ounce.   Exxon Mobil Corp. helped send Standard & Poor’s 500 Index energy stocks to a 1.4 percent gain as oil rose for a second day.  The S&P 500 added 1.2 percent to 1,108.86. The Dow rose 126.74 points, or 1.2 percent, to 10,471.58.  The NASDAQ closed  at 2,175.81 up 31.21  or 1.46%


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