Stock Rally Ends 2008, Unemployment Drops, Treasury Helps Auto Businesses
2008 went out with a positive bang as dropping unemployment claims and word that the treasury will assist any business they decide is important to manufacturing or financing automobiles triggered a broad based rally. The majority of analysts surveyed by Bloomberg are expecting 2009 to be a positive one for the stock market, today appears to be a confirmation signal for the future. The DJIA rallied +108.00 to 8776.39, the Nasdaq climbed +26.33 to 1577.03 and the S&P 500 soared +12.61 to 903.25 capping out the bearish year in a bullish fashion.
Akorn Inc
(
AKRX |
Quote |
Chart |
News |
PowerRating) – Jumped 18.97% or 0.37 cents to $2.32/share after the FDA approved the company’s treatment for infections.
National Penn Bancshares
(
NPBC |
Quote |
Chart |
News |
PowerRating) – Gave back 4.45% or 0.67 cents to $14.37/share due to a heavy impairment charge caused by writing down the value of its preferred securities.
Puget Energy
(
PSD |
Quote |
Chart |
News |
PowerRating) – Advanced 18% or $4.17 to $27.34 after Puget Holdings obtained information to purchase the company for $7.4 billion.
Time Warner Cable
(
TWC |
Quote |
Chart |
News |
PowerRating) – Fell 1.42% or 0.31 cents to $21.45 after Viacom threatened to pull channels.
Oil climbed $4.19 to $42.64, gold added $14.30 to $884.30 and the VIX ended the year down 3.92% to $40.00 as fear eases out of stocks.
| Market Snapshot | |||||||||||||
|
| Economic News |
|||
|