go finance report - Wall Street rallied on Thursday recorded local time as a concern due to the debt crisis, Europe to shrink, forcing investors to reverse bets become bearish on the market.
"Several times this year, we are afraid to invest in national debt. As a trader, we are getting more confident this will be a time that is really important," said a senior trader at regional investment bank Wedbush Morgan in Los Angeles, Michael James, quoted by Reuters on Friday (03/12/2010).
On average, the Dow Jones Industrial (DJI) rose 106.63 points, or 0.95 percent, to 11362.41. The broader Standard & Poor's 500 (SPX) rose 15.46 points, or 1.28 percent to 1221.53. While the Nasdaq Composite Index (IXIC) added 29.92 points, or 1.17 percent to 2579.35.
Known, data from the Commodity Futures Trading Commission showed net short-term position-E mini S & P futures rose to more than 210 thousand contracts, this being the largest short position since the week of July 22, 2008.
Traders said the European Central Bank (ECB) has purchased bonds Portugal and Ireland, which supported the market even the central bank said there would be no acceleration program on the market.
Meanwhile, much stronger than expected, sales of U.S. retailers in November was a sharp jump in pending home sales, and labor market data the better is the latest sign that U.S. economic recovery on track and likely in recession double-dip. (go finance)
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