Friday, April 27, 2012

Stocks Finish Week Dull; 2.2% GDP Gives Pause

Despite first quarter GDP printing at 2.2% prior to the opening bell, there was simply no holding back the animal spirits, as investors continued to shrug off any hint of bad news for the economy and push stocks to nosebleed levels.

Though gains were modest, they nevertheless were gains, based on nothing other than sentiment and greed. New highs expanded dramatically over a paucity of new lows.

Oil, gold and silver all posted modest gains. Overall, it was one of the duller sessions of the year, the typical low volume dynamic fully in play.

Dow 13,228.31, +23.69 (0.18%)
NASDAQ 3,069.20, +18.59 (0.61%)
S&P 500 1,403.36, +3.38 (0.24%)
NYSE Composite 8,151.91, +28.84 (0.36%)
NASDAQ Volume 1,807,514,500
NYSE Volume 3,645,831,750
Combined NYSE & NASDAQ Advance - Decline: 3714-1855
Combined NYSE & NASDAQ New highs - New lows: 347-42
WTI crude oil: 104.93, +0.38
Gold: 1,664.80, +4.30
Silver: 31.35, +0.14

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