Stocks end near the highs for the day. It was all about Wells Fargo and The Real Estate Play (see my prior note).
The bottom line:
- 1) Dow, S&P at 2-month highs
- 2) NASDAQ near highs for year
- 3) Volume modest, but demand for stocks improving
Sectors strength this month are in the most beaten-up areas:
- Financials up 18%
- Consumer discretionary up 12% (builders, retail)
- Industrials up 11%
- Healthchare, consumer, and utilities are the laggards.
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