Dow Soaring on Job Data
|Gain/Loss||Gain/Loss %||Ending Value|
|Dow Jones Industrial Average (INDEX: ^DJI)||142.93||1.12%||12,848.34|
|Nasdaq (INDEX: ^IXIC)||43.27||1.55%||2,902.95|
|S&P 500 (INDEX: ^GSPC)||17.18||1.33%||1,342.72|
All three indexes are putting in impressive gains and look poised to end an eight-month streak of heading south when unemployment is released. As of right now, the Nasdaq has hit an 11-year-high watermark and all but two of the 30 Dow stocks are green. Of those components, the biggest winner is Bank of America (NYS: BAC) and its impressive 4.5% gain. In fact, the entire banking industry is soaring, sending shares of the levered Direxion Financial Bull 3X (NYS: FAS) ETF soaring 6.2%.
For believers of the January effect, there is now over a 96% chance that the markets will have a strong showing for all of 2012. It will be interesting to see if all of the good data coaxes more liquidity into the market, as trading volumes have been relatively low this year.
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