The positive trending that kicked off the day continued into the afternoon and
sent U.S. stocks soaring as the Dow hits the 12,000 mark. The S&P makes gains
topping 1,300 for the first time since September of 2008. Investors confidence
is boosted by solid corporate earnings reports and a surprisingly strong
manufacturing report that continue to drive the market up. The Nations
automakers, including GM, Ford and Chrysler , all reported strong sales figures
that matched or exceeded expectations. The unrest in Egypt that sparked fear in
investors at the start of the week has begun to settle. Investors realize that
the issues in Egypt remain far from being resolved. Most recently Standard &
Poors announced, in addition to downgrading Egypts debt, it has also cut its
foreign currency rating. As issues in Egypt continue to progress, investors have
been able to turn their focus,at least for now, to the U.S. The unrest in Egypt
and the not so distant financial struggles that erupted in Europe are a reminder
that risks are always at hand. At close the major market indexes continue to
trend in the green. Dow gained 148.23 points or 1.25% to 12040.16. Nasdaq
increased by 51.11 points or 1.89% to 2751.19. S&P 500 rose 21.47 points or
1.67% to 1307.59. The U.S. Treasuries gained 0.06 to 3.44%. Oil dropped 1.58 to
$90.60 a barrel. The U.S. dollar lost 0.0079 to the Euro at $1.38. Author:
Pamela Frost
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