From Investorplace.com
Jump Aboard Santa’s Sleigh Now
There could be a round of profit-taking, but it appears the Santa Rally has begun
By Sam Collins, InvestorPlace Chief Technical Analyst | Dec 19, 2013
On Wednesday, the Dow rallied to a new record close, and the S&P 500 exploded to an all-time closing high following the Federal Reserve’s slight paring of its stimulus plan.
The Fed decided to “taper” by just $10 billion from its prior $85 billion bond-buying program. And it kept interest rates unchanged. Additionally, Chairman Ben Bernanke said that easy money and low interest rates will stay in place. Stocks, gold and even bonds rallied on the news.
At the close, the Dow Jones Industrial Average gained 293 points at 16,168, the S&P 500 jumped 30 points to 1,811, and the Nasdaq vaulted 46 points to 4,070. The NYSE traded a total of 4.3 billion shares and the Nasdaq crossed 2.2 billion. On the Big Board, advancers outnumbered decliners by 3.5-to-1, and on the Nasdaq, advancers were ahead by 2.4-to-1.
Read more from Investorplace.com >>
Jump Aboard Santa’s Sleigh Now
There could be a round of profit-taking, but it appears the Santa Rally has begun
By Sam Collins, InvestorPlace Chief Technical Analyst | Dec 19, 2013
On Wednesday, the Dow rallied to a new record close, and the S&P 500 exploded to an all-time closing high following the Federal Reserve’s slight paring of its stimulus plan.
The Fed decided to “taper” by just $10 billion from its prior $85 billion bond-buying program. And it kept interest rates unchanged. Additionally, Chairman Ben Bernanke said that easy money and low interest rates will stay in place. Stocks, gold and even bonds rallied on the news.
At the close, the Dow Jones Industrial Average gained 293 points at 16,168, the S&P 500 jumped 30 points to 1,811, and the Nasdaq vaulted 46 points to 4,070. The NYSE traded a total of 4.3 billion shares and the Nasdaq crossed 2.2 billion. On the Big Board, advancers outnumbered decliners by 3.5-to-1, and on the Nasdaq, advancers were ahead by 2.4-to-1.
Read more from Investorplace.com >>
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