Market Overview

Dow Closes Above 13,000 on Black Friday

U.S. stocks rallied more than three percent during this week's holiday-shortened session, capped off by a 172 point rally on Black Friday which pushed the Dow over the closely-watched 13,000 level.

The Dow, NASDAQ and S&P 500 are currently sitting at levels not seen since just after President Barack Obama was re-elected.

Topics which were on traders' minds this week: a promising Black Friday, a shaky-at-best cease-fire between Israeli and Hamas forces, regulators circling Steven Cohen, fraud allegations from Hewlett-Packard (NYSE: HPQ) related to its purchase of Autonomy, and continued struggles to stamp out deals in the eurozone.

Notable earnings for the week included Best Buy (NYSE: BBY), Tyson (NYSE: TSN), Salesforce.com (NYSE: CRM), Deere (NYSE: DE), Lowe's (NYSE: LOW) and Brocade (NASDAQ: BRCD).

Crude oil closed the week just over $88 and COMEX gold rose over the $1750 level.

Posted-In: Black FridayNews Retail Sales Events Intraday Update Markets Best of Benzinga

 

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