The Market Surges, And Even Meredith Whitney Can't Stop It

Once again, the bulls are off to another great start.

The indexes surged on today’s news of more retail sales and a weak dollar.

Bernanke couldn’t even keep these Bulls down, with the Dow gaining 136 points, closing at 10,406 as it heads toward the 11,000 mark.

The NASDAQ and S&P has a positive day as well, gaining 30 points and 15 points, respectively.

And Meredith Whitney being bearish? Who cares!

Crude oil gained today, ultimately ending up at $78.76 a barrel for December futures contracts. Gold hit a new record of $1140 an ounce as it continued its all-out assault on the dollar but eventually dropped to $1137. Nearly all sectors performed well today, with the exception of insurance, which had a few losers like AIG (AIG and traveller’s (TRV), both of which ended down a percentage point.

Huge gains in energy today, with Exxon-Mobil (XOM), Apache Corp. (APA), and Devon Energy (DVN) all up for the day. Financials had a good day too, with Citigroup (C) up 3.2% at $4.18 and Morgan Stanley (MS) up 3% at $34.08. Revlon Inc. (REV) gained a whopping 12% to close at $16.83.

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