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Stocks Higher for 7th Consecutive Session?
Tuesday morning begins on a light note but in the afternoon the Treasury releases its final budget statement for fiscal year 2009, and the third-quarter earnings sessions resumes from last week with Intel and J&J. rnrnNinety minutes before the opening bell, the S&P 500 is looking up 1.75 points to 1,073, a fresh annual high after six days of gains.
Market Recap: Dow, S&P 500 Reach New 12-Month Highs
Markets opened higher on Monday and appeared steady throughout the morning, with all three indexes hitting intraday highs for the year. But at 2pm investors began to snatch profits, driving prices below opening levels. The final 90 minutes saw stocks rebound into the black, but they failed to match earlier levels.rnrnThe Dow closed 0.21% up at a new 12-month high of 9,885.80. That’s 20 points higher than Friday’s close, but earlier in the day it was at 9,909.60. The S&P 500 also climbed to a 12-month high as it moved up 0.44% to 1,076.18. The last hour rally in the
Retail Sales, Industrial Production, Q3 Earnings, Consumer Sentiment
Last week the S&P 500 added 4.5%, gold hit a record high, and the US dollar tested new lows for the year. So much for a turning point. This week begins slowly with the bond market closed on Monday, but later in the week retail sales and industrial production numbers are releases, plus the first monthly look at consumer sentiment. A range of government officials will also give their latest updates on the economy, which could put less focus in Tuesday’s dated FOMC minutes.rnrnThe Q3 earnings session continues from Tuesday to Friday. Highlights include: Intel, J&J (Tuesday); JPMorgan (Wednesday); Harley-Davidson,
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