Dow Rises 125 Points to Advance 2 Days Consecutive
The Dow was up 125 points on Friday to close at 11,269. The NASDAQ was up 15 points to close at 2508. Stocks continued to have some promise after strong earnings from Cisco and an upbeat jobs report. In Europe, stocks were really strong Friday, with the FTSE, DAX, and STOXX all up over 3%.
Boeing was up 5% to close at 61.75 to lead the Dow. Hewlett Packard was up 4% to also be strong for the day. Stocks such as United Technologies and Disney were also on the positive side.
Financials considered to be the laggards of the markets, with AMEX, BOA, and JP Morgan all down for the day. The financials are down over 20% in the past month, and despite the bailout allowing banks to grow strong again, the bank stocks do not feel the same way.
In the commodities markets, gold moved to $1,750 per ounce, while oil rose above $85 per barrel. With analysts projecting gold to move to $2,000 an ounce, the support at $1,700 has been strong despite 2 strong market days.