Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Thursday, December 13, 2007

Late rally

Stocks spent most of the day in the negative Thursday, but made a late push to end right around even. The moves were due to an unexpectedly strong retail-sales report that coincided with the biggest jump in wholesale prices in more than 34 years. Fannie Mae surged 8.2% in afternoon trading to 34.76, while its cousion, Freddie Mac, gained 7.6% to 32.46. Dow component Honeywell International Inc. was the strongest performer of the blue-chip index, after the company increased its earnings guidance for 2008 and reconfirmed its earlier guidance for 2007. Shares rose 5.3%. DJIA +44.06 Nasdaq -2.65 S&P 500 +1.82