The Dow Hits New High

The S&P 500 is up again this morning. The index has been as high as 1,893.68. The Dow pierced 16,600, breaking its all-time high from December 31. On our Buy List, Qualcomm ($QCOM) and Medtronic ($MDT) hit new 52-week highs.

This morning, the Department of Labor said that initial claims rose to 326,000. Last week’s number was revised to 310,000. This number bounces around a lot, but it’s still quite low. The big labor news will be tomorrow’s jobs report. There’s a chance it could be the best NFP in months. Also, the Department of Commerce said that the trade deficit increased in February to $42.3 billion. The consensus was for $39.1 billion.

Google’s new C Class shares are trading. GOOGL opened 0.63% higher than GOOG. The spread has narrowed to about 0.3%.

Bespoke Investment Group notes that 83% of stocks in the S&P 500 are above their 50-day moving average. That’s a high for this year.

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Posted by on April 3rd, 2014 at 10:04 am


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