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The markets just wanted to close higher today. A slight gain in the weekly jobless claims had no real impact and a really poor 30-Year Treasury auction that just hints at the demand for rates to rise had only a temporary effect against the stock market. 
Today was another trading day bare of major economic data. Shares were all over the place today with the indexes not giving any clear direction at any point of the day. It was not until right before the close that you had a real feel for whether we would close up or down today. Continue reading Closing Bell: The Yo-Yo market (ENER, ITT, F, GS, UNH, RA, FIG)
If you were depressed about more than 500,000 jobs being destroyed and over a 6.7% unemployment number, it seems that technical trading buyers came in to your rescue today. Home delinquencies rose in every single market but that is expected by now. The late day rally came on strong and bailed out the bulls today. Here were today's unofficial closing bell levels:DJIA 8,635.42 +259.18 (3.09%)
S&P 500 876.07 +30.85 (3.65%)
Nasdaq 1,509.31 +63.75 (4.41%)
Top Analyst Upgrades
Top Analyst Downgrades
Bank of America Corp. (NYSE: BAC) is expected to win control over Merrill Lynch as today is the shareholder vote on the merger. Shares rose over 7% to $15.35 on the news.
Continue reading Closing Bell: Late day rally saves the week
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