The Globe and Mail

 

Blogs

Featured:

Monday, November 9, 2009 4:42 PM

The close: Dow hits new 52-week high

Allan Robinson

Amazingly, there was no late-in-day selloff or last-minute profit-taking after the run-up in share prices Monday. Maybe that happens Tuesday.

The Dow Jones industrial index closed at a new 52-week high, climbing 2.03 per cent, or 203.52 points, to close at 10,226.94 points. It was last at this level in early October, 2008.

The S&P 500 rose 2.22 per cent to 1,093.08; the Nasdaq 1.97 per cent to 2,154.06; and the S&P/TSX up 2.1 per cent to 11,486.88.

In the U.S, the most active stocks with healthy gains are in sectors facing the biggest economic hurdles. The top gainers included Ford Motor Co. (up 5.5 per cent) and financial giants such as Citigroup Inc. (3.2 per cent), Bank of America (4.8 per cent) and Wells Fargo & Co. (up 4.7 per cent). The financials have recently been lagging the rally.

It was a market driven higher by expectations of continued low interest rates and stimulative policies by the world’s central banks, augmented by the benefits to the economy of a weak U.S. dollar.

In Canada, the big winners were in golds, base metals and energy. Among the most active gainers were Goldcorp Inc., Eldorado Gold Corp., Iamgold Corp., Suncor Energy Inc., Teck Resources Ltd., Red Back Mining Inc., Talisman Energy Inc. and Nexen Inc.

Latest Comments

Most recent posts from the Market Blog

At the close: Down but resilient Nov 20, 2009 4:52PM EST

At noon: Universal declines Nov 20, 2009 12:40PM EST

Negative T-bill yields Nov 20, 2009 12:34PM EST

At the open: Stocks down but fighting Nov 20, 2009 10:09AM EST

Most recent posts from the Market Blog

More business and investing posts

Number Cruncher

The hottest ETFs on the TSX Nov 20, 2009 4:37PM EST

Streetwise

Osisko forgets it's a target Nov 20, 2009 1:15PM EST

More business and investing posts

Markets Blog Contributors

David Berman

David Berman

David Berman has been writing about business and investing since 1995. He began his career at Canadian Business magazine, where he wrote full-length features on a range of topics, from goose slaughterers to broadcasters. Later, he moved to MoneySense magazine, where his emphasis turned to investing. More recently, he worked at the Financial Post as an investing writer and daily columnist. He has a bachelor of arts degree from the University of Toronto and studied journalism at Ryerson University.

 

David Parkinson

David Parkinson has been covering business and financial markets since 1990, and has been with The Globe and Mail since 2000. A Calgary native, he received a Southam Fellowship from the University of Toronto in 1999-2000, studying international political economics.

 
Globe and Mail Reporter Simon Avery.

Simon Avery

Simon Avery has covered telecom and technology for the Globe since 2004. Previously, he was a staff reporter for The Associated Press in Los Angeles and for The Wall Street Journal in San Francisco. He covered the boom and bust in Silicon Valley for the Financial Post between 1998 and 2001. Mr. Avery holds a Master's degree in journalism from Columbia University and a Bachelor of Arts in English and political science from the University of Western Ontario.