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Equity Index Market Report
Fri 03 Feb 2012 15:24:01 CT
Related Keywords: Equity Index
Related Keywords: Equity Index
Recap Stock Index Market Report
The March S&P broke out of its recent trading range in the wake of a much better than expected January Non-Farm Payroll report. The market embraced the largest monthly increase of jobs since April of 2011 and a fall in the unemployment rate to the lowest level in nearly 3 years. The March S&P 500 rallied to its highest level since July 7th, while the Dow Jones cash index registered a new multi-year high. Financial-related shares were the top performers on the session, logging a gain of more than 2.0%. Consumer discretionary stocks also benefited from the positive jobs data and prospects that the US economy was further entrenched on the recovery track. Trading volume on the New York Stock Exchange was running about 20.0% above its 30 day average late in the session. Market breadth was positive, with advancers outpacing decliners by nearly 4 to 1. In the final hour of trade, the March S&P 500 was on track to close the week with a gain of 2.0%. That equates to nearly a 7.0% gain so far in 2012.
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