Stocks Surge: Dow Again Breaks 10,000

Maura Lockwood, Cabot Headline News
November 06, 2009
 
Stocks surged on renewed optimism about the economy, sending the Dow Jones Industrial Average over 10,000 with its biggest gain in three months. The Wall Street Journal reported.

Cabot Top Ten Report Special OfferThe Dow closed up 203.82 points, or 2.1%, the 11th triple-digit move since the beginning of October, compared to just three in September and five in August, according to the Journal. It was also the largest point gain since July 15, and the biggest percentage gain since July 23.

The Nasdaq rose 2.4% and the S&P 500 rose 1.9%, led by consumer discretionary shares, which were up 2.6% after new data from the International Council of Shopping Centers showed U.S. retailers posted sales gains for the second consecutive month in October, according to the Journal.

The tech sector up 2.2%, responding to encouraging comments about technology spending by the CEO of Cisco Systems, the Journal reported.

The leading technology and retail stocks are covered each week in Cabot Top Ten Report

 

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A growth stock and market timing expert, Michael Cintolo is editor of Cabot Market Letter and Cabot Top Ten Weekly. Since joining Cabot in 1999, Mike has uncovered exceptional growth stocks and helped to create new tools and rules for buying and selling stocks. Perhaps most notable was his development of the proprietary trend-following market timing system, Cabot Tides that has helped Cabot place among the top handful of market-timing newsletters numerous times. Cabot Market Letter is one of only nine newsletters included in Hulbert Financial Digest's 2010 Honor Roll for performance in up and down markets, and is a Timer Digest Top Ten Long-Term Timer.


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