Today’s close: Up 5.1%
Caterpillar catapulted into 2009 as traders flipped the bird at dismal manufacturing numbers on the next to last day of the annual Santa Claus rally.
Closing numbers
- Wednesday’s close, 44.67
- Today’s open, 42.57
- Range: 44.71 – 46.98
- Close: 46.91, +2.24 (+5.01%)
- Volume: 7,096,138
The Indexes:
- Dow, 9,034.69 +258.30 (+2.94%)
- S&P 500, 931.80 +28.55 (+3.16%)
- Nasdaq, 1,632.21 +55.18 (3.50%)
Best news is that techs led the market higher; I never trust a rally that leaves out the Nasdaq. Of course, 3 percent pops to the upside are more characteristic of bear market short squeezes, especially when all the economic news remains gloomy. Cat volume was comparatively thin, though better than Wednesday.