Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, September 22, 2009

Tuesday

Today, stocks pushed to the highest levels this year on the backs of financial, energy and material shares, as investors went back to betting on a global recovery after a pullback Monday. The Dow was helped by a gain of 4.3% for JP Morgan and 3.6% for Caterpillar. Among the biggest winners in the financial sector were bond and mortgage insurers. The insurers that rose the most generally had substantial short-seller interest, suggesting that the recent price rise for the group may have put some pressure on short-sellers to cover their positions. DJIA +51.01 S&P 500 +7.00 NASDAQ +8.26