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Market Update - First DOW 12,400+ Close

Author: David J. Kosmider (info)
Website: http://eidoan.com/
Posted: December 14th, 2006 at 5:18 pm EST
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On strong earnings reports and economic data, stock prices shot way up in the first hour of trading today. After that, performance was mixed on the major indexes. The Russell 2000 and the NASDAQ 1000 declined slightly from this point, while the rest of the major indexes continued to climb slowly for the rest of the day. The DOW closed above 12,400 for the first time ever. Oil also showed strong gains today on news that OPEC has decided to cut production starting in February. Gold was down slightly today.

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