Reply #62: Closing time - Bargains were too good to pass up on I guess.

[54anickel]

Dow 10,077.40 +88.86 (+0.89%)
Nasdaq 1,869.87 +9.99 (+0.54%)
S&P 500 1,110.06 +6.54 (+0.59%)
10-yr Bond 4.012% +0.015
30-yr Bond 4.801% +0.029
NYSE Volume 1,397,201,000
Nasdaq Volume 1,536,325,000

Close: There is no clear explanation for the strength in the stock indices today...the markets opened modestly higher even as oil prices were higher and temporarily went through $50 a barrel...the market took a slight hit from a weaker than expected September Consumer Confidence Index reported at 10:00 ET, but then settled into modest gains through early afternoon...in the afternoon, Caterpillar (CAT 76.90 +2.48) provided a catalyst for further gains, as the company said revenue this year would be above current Wall Street estimates...

still, that was hardly in itself a reason for big gains, especially with oil closing up 26 cents at $49.90 a barrel...rather, some underlying bullishness was apparently brought forward after the declines in the indices last week and Monday...the market thus continues to show the resilience seen since mid-August...there was little corporate news of broad importance, as there were no major earnings warnings today...commodity-based sectors posted the best gains, while the SOX semiconductor index lost 0.9%...bonds were flat as the 10-year yield held at 4.00%...volume was moderate...NYSE Adv/Dec 2282/1032, Nasdaq Adv/Dec 1897/1176

Advances & Declines
NYSE Nasdaq
Advances 2276 (65%) 1908 (59%)
Declines 1023 (29%) 1176 (36%)
Unchanged 177 (5%) 148 (4%)

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Up Vol* 942 (69%) 796 (52%)
Down Vol* 398 (29%) 707 (46%)
Unch. Vol* 21 (1%) 21 (1%)

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New Hi's 191 63
New Lo's 51 72

Have a great night everyone. :hi: