15 Reasons Markets Moved This Week

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Dow 11,410 S&P500 1,240 Nasdaq 2,637 Gold 1,384

The S&P 500 closed the week at its highest level since September 2008. Gold is only $20 off last week’s close above $1,400.

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Now, for the 15 reasons markets moved this week:


  • Ben Bernanke will allegedly tell 60 Minutes QE2 could expand beyond $600 billion. That’s surely kindling for the liquidity rally, but wasn’t this already a foregone conclusion when Bernanke said the Fed will do whatever it takes? Wall St. Cheat Sheet Managing Editor Elliot Turner says Today Will Give us an Important Clue for Where Markets Will Go Next >>
  • The rise in headline Unemployment couldn’t keep markets down. Despite a move from 9.6% to 9.8% and an underwhelming addition of 39,000 jobs to the economy, bulls brushed off the data and sent the Nasdaq (NASDAQ:QQQQ) just off three-year highs. See How Unemployment has Affected the Market Since 1948 >>


  • Google (NASDAQ:GOOG) launched e-Books and Facebook got a makeover. The activity in technology (QQQQ) has remained high as the Web seems to be on the cusp of 3.0. Wall St. Cheat Sheet Managing Editor Elliot Turner reveals How To Ride the Coattails of Technology >>


  • 10-Year Yields (NYSE:TLT) hit the highest since May. 3.34% was the fixed-income of the day as Treasuries fell.


  • The House Democratic Caucus voted against the tax cuts. Back to the political drawing board for now.
  • Treasuries rallied. A 30-year bond auction went well, so investors rode the momo.


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