FYI: Viva la Santa Rally! U.S. stocks rose for the fifth day in a row, while the S&P 500 closed at its second record close in as many sessions. The venerable Dow Jones Industrial Average rose above 18,000 for the first time ever. Ostensibly, it was the Commerce Department’s best report on quarterly gross-domestic product that moved the needle. GDP in the third-quarter was finalized at a 5% annual pace, which as the best quarterly reading in over a decade. There was weakness under the surface, however, as biotech stocks sold off for the second day in a row. Bonds dropped fast and gold edged higher.
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2014/12/23/etf-market-vital-signs-dec-23-santa-rally-rides/tab/print/
