Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Friday, January 14, 2011

Friday

Stocks reached their highest closing levels in two and a half years today, driven by a rally in the financial sector following stronger-than-expected earnings from J.P. Morgan Chase. The gains put the Dow Jones Industrial Average up .96% for the week, extending the measure's winning streak to a seventh week. The Dow's financial components led its climb after J.P. Morgan posted a 47% jump in fourth-quarter profit, beating analysts' expectations as revenue increased and loan-loss reserves were sharply reduced. DJIA +55.48 Nasdaq +20.01 S&P 500 +9.48.