STOCKS INCH CLOSER TO AN ALL-TIME HIGH: Here’s What You Need To Know (DIA, SPY, QQQ)

• Tweet
• Pin It

After a brief pause yesterday, stocks continue their epic rally.

First the scoreboard:

Dow: 13,948, +66.0, +0.4 percent
S&P 500: 1,508, +8.6, +0.5 percent
NASDAQ: 3,155, +1.4, +0.0 percent

And now the top stories:

• The Dow and S&P 500 are extending their epic post-crisis rallies.  And they’re not very from their all-time highs.  On October 9, 2007, the Dow closed at 14,164.  The S&P 500 closed at 1,565 on that same day.
• The Case-Shiller home price report showed that prices climbed 5.52 percent in November, which was right in line with expectations.  This confirmed to everyone that the U.S. housing recovery persists.
• However, the latest reading of consumer confidence kept the optimists in check.  The Conference Board’s reading of consumer confidence plunged to 58.6.  Economists were looking for 64.0.  “The increase in the payroll tax has undoubtedly dampened consumers’ spirits and it may take a while for confidence to rebound and consumers to recover from their initial paycheck shock,” wrote the Conference Board.
• Skeptics are worried that stocks can’t continue this huge rally.  But there are also plenty of strategists who see plenty of reasons for more gains.  One of the most popular bullish arguments righ now is the idea of a “great rotation” of funds out of bonds and into stocks.
• Don’t Miss: The 20 Fastest-Growing Countries In The World >

Please follow Money Game on Twitter and Facebook.

Join the conversation about this story »

Clusterstock

Related Posts

• The Only Things You Need To See From The Billboard Music Awards
  The Only Things You Need To See From The Billboard Music Awards
• The Benefits of Diatomaceous Earth: What You Need to Know
  The Benefits of Diatomaceous Earth: What You Need to Know
• 14 Questions You Want To Know The Answer To After Watching The “Scandal” Season Finale
  14 Questions You Want To Know The Answer To After Watching The “Scandal” Season Finale
• Hoes Be Winnin: 10 Greatest Slores Of All-Time
  Hoes Be Winnin: 10 Greatest Slores Of All-Time