Stocks wobbled, but closed at session highs Monday, thanks to a late rally. Worries about holiday spending and fallout from the Dubai crisis pressured equities from the opening bell.
But major indexes turned firmly higher in the final hour as Dubai World said it would try to restructure about $26 billion in debt. That's better than defaulting on the whole $60 billion that it owes.
The S&P 500 and the Nasdaq gained 0.4% and 0.3%, respectively.
Meanwhile, the Dow and NYSE composite climbed 0.3% each.
Volume climbed sharply compared to Friday's half-session levels.
Bullish sentiment fueled by financial stocks going bullish in an end of day rally.
Futures Last Change Change %
Crude Oil 77.2 +1.15 +1.51%
Natural Gas 4.85 -0.34 -6.55%
Gold 1180 +4.5 +0.38%
Dow 10323 +31 +0.30%
S&P 500 1093 +3.5 +0.32%
Nasdaq 100 1767 +7.75 +0.44%
Forex & Bonds Last Change Change %
EUR/USD 1.5007 +0.0022 +0.15%
USD/JPY 86.31 -0.16 -0.18%
GBP/USD 1.6446 -0.0049 -0.30%
5-Year Treasury 2.006 -0.027 -1.33%
10-Year Treasury 3.201 -0.011 -0.34%
30-Year Treasury 4.194 -0.017 -0.40%
It seems that we stuck in range trade of 1090 to 1110. |