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Stocks Resume Risk-On Mode With Strong Economic Numbers
MINYANVILLE ORIGINAL The Dow Jones Industrial Average (INDEXDJX:.DJI) rose 59 points on Thursday on a batch of solid economic data. This morning we saw initial jobless claims Q3 GDP November existing home sales and the December Philly Fed report all come in ahead of expectations putting traders in a good mood. Looking at the market action there was continued outperformance in financials small caps and energy which is indicative of a "risk-on" posture for markets. In stock news IntercontinentalExchange (NYSE:ICE) announced before the open that it would acquire NYSE Euronext (NYSE:NYX) for $8.2 billion. NYSE Euronext shares had skyrocketed ...
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