Markets closed up on Wall Street: DJI +0.44% SP500 +0.35% Nasdaq +0.50% Gold –0.24%
The markets were up because:
- A lack of crappy news allowed traders to push the markets back to the top of the 3 month trading range. Industrial Production and the New York Fed Empire Index were lackluster, but bears may have been pricing in a much worse slowdown by this point. Check out where our readers think markets will be on Thanksgiving >
- Retailers caught a bid. Kenneth Cole Productions (KCP), Liz Claiborne (LIZ), Coach (COH), and Nike (NKE) popped nicely as some bears may be rethinking heavy shorts as retail sales haven’t fallen off a cliff. See why investors are also continuing to bid up shares of Gold >
- Japan’s Yen intervention pushed money into equities. The news of the day was Japan’s sale of Yen to help increase exports and economic growth. See if it means anything for the US Dollar relative to this long term chart >
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