The traditional "Santa rally" finally arrived late last week as investors
responded to better domestic economic news and fewer crises from Europe.
Consumer spending was slightly higher than expected, and an agreement to extend
the tax cut for two months ended the week on a high note. Friday turned in the
lightest volume day of the year; breadth was even. But despite the disinterest,
the Dow industrials achieved a triple-digit gain. At the close, the Dow Jones
Industrial Average was up 124 points to 12,294 (up 1.02%), the S&P 500 rose 11
points to 1,265 (up 0.9%), and the Nasdaq gained 19 points at 2,619 (up 0.74%).
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