Tuesday, January 7, 2014

Wall Street Gets First Rally of 2014, Right on Queue

It took a few days (four to be exact), but Wall Street had its first rally of the new year, and it was kind of a big deal.

With two-thirds of the country under the deep freeze and the data streams of economic reports and corporate earnings in a kind of limbo, a little confidence boost was exactly the tonic needed, because, after all, Wall Street would largely cease to exist without a healthy dose of confidence.

Call it any way one likes, stocks needed to rally, and they did. If this is the way efficient markets work, or, how rigged, gamed, manipulated markets operate, so be it.

All is well... until it isn't, unless it's not real, then it doesn't really matter.

DOW 16,530.94, +105.84 (+0.64%)
NASDAQ 4,153.18, +39.50 (+0.96%)
S&P 1,837.88, +11.11 (+0.61%)
10-Yr Note 98.33, +0.27 (+0.27%) Yield: 2.95%
NASDAQ Volume 2.12 Bil
NYSE Volume 3.51 Bil
Combined NYSE & NASDAQ Advance - Decline: 2876-1841
Combined NYSE & NASDAQ New highs - New lows: 304-17
WTI crude oil: 93.67, +0.24
Gold: 1,229.60, -8.40
Silver: 19.79, -0.316
Corn: 426.00, -1.75

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