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Friday, January 13, 2012

U.S. Stocks Edge Higher on Cautious Optimism Out of Europe 13/01/2012

Industrial, Material Shares Lift Wall Street
A late-session rally in industrial and basic materials stocks offset losses seen across the energy sector, lifting the markets into positive territory on the day.

The Dow Jones Industrial Average gained 21.6 points, or 0.17%, to 12471, the S&P 500 rose 3 points, or 0.23%, to 1296 and the Nasdaq Composite rose 13.9 points, or 0.51%, to 2725.

Market participants parsed through a slew of European and economic developments on Thursday.

From Monday till Thursday's close, the Dow is up +111.10 or +0.90% with 1 more session to complete an enthused week.

Analyst's Quote
“We’re breathing pretty shallow until we get developments on both fronts,” he added, pointing to corporate results and, in particular, guidance, along with aggressive enough steps by European leaders to assuage worry about the ramifications of the region’s debt crisis. “Stronger moves by the [European Central Bank] would be one, then maybe the market would give Europe some time to heal some of the wounds.”


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