STTG Market Recap January 2, 2013

From Stock Trading To Go
January 2, 2013 - 6:04pm

Happy first market day of 2013. As it has been for the previous four years (with 1%+ gains in each) 2013 began with a bang with a 2.54% gain in the S&P 500 and 3.07% gain in the NASDAQ. This year's reason was the agreement by Congress yesterday to do a minor compromise to push out most issues two months - for a market that focuses on the day to day, sixty days is an eternity, so this was viewed as very positive news. There was a positive ISM Manufacturing report which showed an expansion again after two months of contraction but frankly economic news meant little today as the market gapped up at the open, came in a little, went sideways for hours, and rallied hard into the close. Everything other than the fiscal cliff situation was details.Original post: STTG Market Recap January 2, 2013

Share this article »  

Continue reading this article »