A Rally Sweeps Over Wall Street (SPY, QQQQ, GLD, USO, TLT, UUP)

A very strong rally pushed the U.S. equity market higher today, with the Dow Jones Industrial Average gaining 273 points to close at 10,172. Buying pressure was sustained throughout the day, and stocks made a nice push right into the closing bell. The SPDR S&P 500 ETF gained 2.92% to $109.15 on Thursday. The day's range in the massive ETF was from $106.04 to $109.28. Volume was on the light side, however, which was a little disappointing and may suggest that this was just a temporary relief rally. The PowerShares QQQ Trust ETF

, which tracks the performance of the Nasdaq 100, jumped 2.88% to close at $45.08. Volume in the QQQQ was 76.64 million compared to a daily average of 133.86 million. Year to date, the ETF has lost 1.46%. Gold was lower on the day, as investors favored equities over the precious metal. COMEX gold futures are currently trading down $10.70, or 0.87%, at $1,219.200. The SPDR Gold Trust ETF

lost 1.34% during the session to $118.95. Oil continued its strong run over the last few days as NYMEX crude futures are currently 1.64% higher to $75.60. The United States Oil Fund ETF

jumped 2.42% to $34.77 during New York Stock Exchange trading. Over the last 3 months, the USO has fallen 12.86%. Treasury prices took a break from their run today, sending the iShares Lehman 20+ Year Treasury Bond ETF

down 1.79% to $96.19. The yield on the 10 year T-bond is now at 3.32%. The U.S. dollar was weaker today as risk appetite re-entered the markets. The PowerShares DB US Dollar Index Bullish ETF

, which tracks the dollar against a basket of foreign currencies, lost 1.05% to $25.38.