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.