Christmas Rally, Spending Drops, Oil Dips
Stocks greeted the pending Christmas holiday on an up note, ending the shortened trading day positively despite lowered consumer spending and increased jobless claims. The negative numbers were mostly expected by economists therefore the muted reaction. Stocks are closed tomorrow for the Christmas holiday, reopening Friday. The DJIA rallied +48.99 to 8468.48, the Nasdaq gained +3.36 to 1524.90 and the S&P 500 added +4.99 to 868.15.
Valley National Bancorp
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PowerRating) – Soared 12.34% or $2.08 to $18.94/share after being added to the S&P 400.
Micron Technology
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New York Times
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Owens-Illinois
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PowerRating) – The glass container maker climbed 9.22% or $2.05 to $24.29/share after it was announced it would replace Wachovia in the S&P 500.
Oil dropped $3.63 to $35.35, gold added $9.90 to $848.00 and the VIX gave back 1.80% to 44.21.
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