Stocks Hit New Highs On Ridiculously Quiet Day: Here's What You Need To Know

polar bear melting ice

Photo: Associated Press

What happened today? Oh, not much… except brand new highs on the S&P. Just that.But first, the scoreboard:

Dow: -12
NASDAQ: +6.6
S&P 500: +3.3

And now, the top stories:

  • The big “drama” of the day came out of Korea late last night (Korea’s afternoon) when the South announced plans to go ahead with live-fire drills which had previously prompted vows of retaliation form the north. As the drills came closer, stocks overseas sold off (as did US futures), but in the end, the North did nothing and markets rebounded.
  • Very little happened in Europe. There was sovereign debt chatter, as always, but nothing really new. At all. Perhaps the crisis can wait until the new year to rear its ugly head again.
  • And in the US? Again, nothing. There was only one minor economic data point, and that was the Chicago Fed number, which was weak, and which nobody paid any attention to.
  • In the end, very little action in any macro markets (no big moves in gold, silver, oil, or other big commodities, and we ended up where we did. At one point the S&P 500 did hit 1250.
  • For some fun reading, check out Saxo Bank’s 10 Black Swan predictions for 2010 >

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