Market news
29.12.2010, 16:16

Dow +37.95 at 11613.49, Nasdaq +7.89 at 2670.77, S&P +3.04 at 1261.55

Both the Dow and the S&P 500 have made modest moves above their best levels of the prior session to set fractionally improved two-year highs. The Nasdaq Composite has about eight points to go before it can challenge its two-year high.
Consumer discretionary stocks have jumped out in front of the broader market to trade with a gain of almost 0.6%. Most of that move has been underpinned by education service providers (+1.7%) and department stores (+1.4%). Sears Holding (SHLD 74.47, +4.45) is a standout in the group as it spikes to a 6% gain. Some of that move is owed to short covering, given that the stock has short interest of 32% of the float.
Financials continue to trail. The sector remains in the red, although it has eased off of its opening low to trade with a slight loss of just 0.1%.
Advancing Sectors: Consumer Discretionary (+0.6%), Energy (+0.5%), Industrials (+0.3%), Materials (+0.3%), Health Care (+0.2%), Tech (+0.2%), Consumer Staples (+0.1%)
Declining Sectors: Utilities (-0.3%), Financials (-0.1%)
Unchanged: Telecom

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