Stocks rose on Thursday, putting the S&P 500 on the cusp of finishing out the year higher as another decline in jobless claims pointed to further improvement in the labor market.
The S&P rose for a third day in seasonally light volume that has contributed to sharp swings recently. With the benchmark index near break-even year-to-date and the Dow already higher for 2011, U.S. stocks appeared on track to outperform such major overseas markets as China, Brazil and Europe, all of which are down more than 10 percent year-to-date.
The Dow Jones industrial average .DJI was up 61.84 points, or 0.51 percent, at 12,169.58. The Standard & Poor's 500 Index .SPX was up 10.29 points, or 0.83 percent, at 1,254.01. The Nasdaq Composite Index .IXIC was up 21.48 points, or 0.83 percent, at 2,599.45. (commentary & photo courtesy of Reuters)
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The RSI portfolio has a good day today, up 0.4% despite its 25% cash position. Seven of the eight positions were up today and all holdings are showing positive overall gains.
One fund that RSI recently recommended, iShares S&P Global Healthcare (IXJ) has been proceeding quite well. However, it still hasn’t been demonstrating improved money flow. I’m sure the holiday reduced volume is playing some part in this. I’m also reluctant to step in with the market in the holiday distraction phase with only one more trading day before this Christmas weekend.
Catch you later.
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