With today’s gain, the Dow and S&P are bookending QE2 with a notable 4-day rally.
The Dow and S&P are having their best 4-day winning streaks since September 3, 2010 -- that’s just a handful of days after Ben Bernanke’s Jackson Hole speech sparked the QE2 rally.
Dow and S&P Gains Last 4 Days:
Meanwhile, the Nasdaq is also up 4 days in a row, gaining 4.38 percent in the period. That’s its best 4-day winning streak since July 9, 2010, when the index posted a 7-day winning streak after hitting its 2010 low in July 2.
A Pop on the Last Day of Q2 2011
The S&P 500 is finally capping off a quarter with a rally. Although the S&P has been up in 7 of the past 8 quarters (excluding this quarter), it has dropped on the last day of each of the past 8 quarters.
Today would be the S&P’s first gain on the final day of a quarter since March 31, 2009, the last trading day of Q1 2009.
Even with Thursday’s surge, the S&P and Nasdaq remain down fractionally on the quarter (down 0.4 percent and down 0.3 percent, respectively), but the Dow has turned positive (up 0.7% in Q2), which would be its fourth consecutive quarterly gain.
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