Week Ends Strong, New Highs, Congress Moves
A strong Christmas week closed on a bullish note as the major indexes hit yearly highs. The US Congress moved to increase the allowable US debt level in an effort to cope with a potential Federal default. Stocks ignored this macro dilemma and instead focused on a roaring tech sector and improved factory orders sending the market higher. The DJIA surged +53.66 to 10520.10, the Nasdaq added +16.05 to 2285.69, and the S&P 500 climbed +5.88 to 1126.48.
Canon Inc (CAJ | Quote | Chart | News | PowerRating): Decided to keep its dividend payment steady resulting in shares climbing 4.42% or $1.85 to $43.78.
Boeing (BA | Quote | Chart | News | PowerRating): 46 new plane orders triggers shares to advance .89% or 49 cents to $55.42.
Cigna (CI | Quote | Chart | News | PowerRating): Fell .44% or 16 cents to $36.33/share after the insurance reform measures were approved in the Senate.
Oshkosh (OSK | Quote | Chart | News | PowerRating): A $54 million US Army truck order sent shares higher by 2.15% or 80 cents to $38.23.
Gold climbed $11.90 to $1105.90, oil added 69 cents to $77.36 and the VIX fear index fell 1.22% to 19.47.
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