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Another solid market close
Posted on 10/25/2006 18:18 PM | Link | Post Comment
The market rallied into the closing stretch, ending on a positive note.
Volume expanded along with the advance, making for an accumulation day. This is a welcome turn, following yesterday's mild accumulation day.
Bond yields moved decisively lower on the day, with the 10-year finishing at 4.77%. The potential for rising rates in the near-term was one worry on the horizon. It remains to be seen if the recent uptrend in yields is over, but it's looking that way.
Semis led the way today (+2.6%), followed by energy stocks (+1.7%). The energy group was bouyed by a spike in oil and natural gas prices, which also served to weigh on the retail sector (-0.7%).
All in all, more bullish action. And more frustration for the bears.
Volume expanded along with the advance, making for an accumulation day. This is a welcome turn, following yesterday's mild accumulation day.
Bond yields moved decisively lower on the day, with the 10-year finishing at 4.77%. The potential for rising rates in the near-term was one worry on the horizon. It remains to be seen if the recent uptrend in yields is over, but it's looking that way.
Semis led the way today (+2.6%), followed by energy stocks (+1.7%). The energy group was bouyed by a spike in oil and natural gas prices, which also served to weigh on the retail sector (-0.7%).
All in all, more bullish action. And more frustration for the bears.
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