Dow & S&P 500 Enjoy Best Close of 2009!

Monday, 12.14.09

Market Commentary:

The major averages edged higher on Monday after Abu Dhabi announced it would bail out Dubai World and Exxon Mobil Corp (XOM -4.31%) announced plans to buy XTO Energy Inc. (XTO +15.35%) for $31 billion. Volume, an important indicator of institutional sponsorship, was reported higher than Friday’s totals on the NYSE and on the Nasdaq exchange which was a healthy sign. Advancers led decliners by nearly a 3-to-1 ratio on the NYSE and by about a 2-to-1 ratio on the Nasdaq exchange. There were 51 high-ranked companies from the Leaders List that made a new 52-week high and appeared on the BreakOuts Page, higher than the total of 25 issues that appeared on the prior session. New 52-week highs substantially outnumbered new 52-week lows on the NYSE, yet the leadership was less substantial on the Nasdaq exchange.

Dubai Gets Bailed Out!

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