The S&P 500 Is Zero for 12 After Six-Day Win Streaks

We had some good economic news this morning. The government reported that retail sales rose by 0.3% last month. This may indicate that the holiday season is going well. Also, new claims for unemployment insurance dropped by 29,000 to 343,000. That’s just 1,000 away from matching the lowest level in nearly five years.

The S&P 500 has risen for the last six days in a row. We were in positive territory earlier today but we’re currently down thanks to some disappointing news regarding the Fiscal Cliff. The S&P 500 hasn’t had a seven-day winning streak in six years. Interestingly, the index has been 0 for 12 after its last 12 six-day win streaks.

CA Technologies ($CA) gapped up at the open today on the news that Michael Gregoire will be the new CEO. The shares got as high as $22.31 but have since given back their gain.

Posted by on December 13th, 2012 at 12:50 pm


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