Financial stocks are leading the market higher as the bulls are trying to rally off the lows.
We have a million things to talk about and we will address those in the Weekly Wrap on Sunday but for now we are just going to do a quick update.
At midday, the Dow is up 108 points, to 10,176, while the S&P is advancing 15 points to 1,087. The Nasdaq is showing a pop of 33 points and is at 2,237 as we head to press.
Goldman Sachs (GS, $143.00, up $6.90) is surging on rumors that they could be close to reaching a settlement with the SEC. Also, if the financial reform bill gets passed, look for this one to surge.
The close will be interesting. Will the bulls hold or will there be a sell-off as nobody wants to be long over the weekend?
We are closing a few more trades today to lock in profits and we will look for some fresh plays on Monday. Subscribers, check the Members Area for the important updates.
Have a good weekend everybody and here’s to a GREAT week! Write us with your questions, comments, or concerns and we will get them answered. See ‘yawl Sunday night!