On a short holiday week, Financials dominated the scene, led by positive earnings news from Wells Fargo on Friday. The markets rallied Thursday, with the Dow closing above 8,000 for the first time since last Friday, with all the major indexes gaining 3% or greater, as they chalk up their 5th straight week of gains.
For the week, all indexes were up about 1% or greater.
- The current 5-week rally for the NASDAQ, up 27%, is its best ever
- The last time the Dow, S&P and NASDAQ all experienced 5-straight weeks of gains was October, 2007
- The NASDAQ Composite continues to be positive in 2009, up 4.79% year-to-date, and the NASDAQ 100 remains in the green for the year, now up 10.62% YTD
- Information Technology and Materials hold onto their positive gains in 2009, up 12.39% and 5.07% YTD respectively, while Consumer Discretionary stocks join the party, up 2.26% YTD
- Since March 9th lows, the Dow is up 23.47%, the NASDAQ is up 30.26% and the S&P is up 26.61%