U.S. stocks end higher; Dow at highest since 2007
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Posted On: 09/11/2012 7:44:17 PM
U.S. stocks end higher; Dow at highest since 2007
Global optimism fuels rise; dollar down after Moody’s warning
NEW YORK (MarketWatch) — U.S. stocks climbed Tuesday, as optimism among investors ahead of decisions by a German court and the Federal Reserve fueled a rise in the Dow industrials to their highest finish in nearly five years.
http://www.marketwatch.com/story/us-stocks-ri...beforebell
“There’s a bit more sense of hope right now, but it’s cautious optimism,” said Robert Pavlik, chief market strategist at Banyan Partners, citing potential central-bank moves for bolstering the global economy.
Up for a fourth session out of the past five, the Dow industrials (DJI
JIA) climbed 69.07 points, or 0.5%, to close at 13,323.36, with Bank of America Corp. (NYSE:BAC) leading the gains that included 24 of its 30 components. It was the highest closing level for the index since December 2007.
The S&P 500 Index (SNC:SPX) rose 4.48 points, or 0.3%, to 1,433.56, with energy and financials pacing the gains and utilities and consumer staples the worst performers of its 10 industry groups.
“The consistent market strength since this rally launched in June continues to convert sideline sitters to bulls and the pre-existing bulls are raising their targets,” Elliot Spar, market strategist at Stifel Nicolaus, wrote in an afternoon note. He’s advising patience and putting money to work on any S&P 500 pullbacks in the 1,400 to 1,397 range.
The Nasdaq Composite Index (NASDAQ:COMP) closed at 3,104.53, up 0.51 point, or 0.02%, well off the session’s high as shares of Apple Inc. (NASDAQ:AAPL) fell 0.3% a day before its expected new iPhone launch
Global optimism fuels rise; dollar down after Moody’s warning
NEW YORK (MarketWatch) — U.S. stocks climbed Tuesday, as optimism among investors ahead of decisions by a German court and the Federal Reserve fueled a rise in the Dow industrials to their highest finish in nearly five years.
http://www.marketwatch.com/story/us-stocks-ri...beforebell
“There’s a bit more sense of hope right now, but it’s cautious optimism,” said Robert Pavlik, chief market strategist at Banyan Partners, citing potential central-bank moves for bolstering the global economy.
Up for a fourth session out of the past five, the Dow industrials (DJI
JIA) climbed 69.07 points, or 0.5%, to close at 13,323.36, with Bank of America Corp. (NYSE:BAC) leading the gains that included 24 of its 30 components. It was the highest closing level for the index since December 2007. The S&P 500 Index (SNC:SPX) rose 4.48 points, or 0.3%, to 1,433.56, with energy and financials pacing the gains and utilities and consumer staples the worst performers of its 10 industry groups.
“The consistent market strength since this rally launched in June continues to convert sideline sitters to bulls and the pre-existing bulls are raising their targets,” Elliot Spar, market strategist at Stifel Nicolaus, wrote in an afternoon note. He’s advising patience and putting money to work on any S&P 500 pullbacks in the 1,400 to 1,397 range.
The Nasdaq Composite Index (NASDAQ:COMP) closed at 3,104.53, up 0.51 point, or 0.02%, well off the session’s high as shares of Apple Inc. (NASDAQ:AAPL) fell 0.3% a day before its expected new iPhone launch
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