US stocks rise after the bulls get a tailor-made news flow, from Alcoa last night to retailers this morning.
DJIA rises 61 (0.6%) to 9787, and it seems like Dow 10000 is back on the radar screen. S&P 500 gains 8 (0.8%) to 1065, Nasdaq Comp rises 13 (0.6%) to 2124. Curiously, after hitting early session highs, stocks never revisited them, and even looked pretty languid through the afternoon. Not sure if it means anything, but there it is.
Stocks got a big boost from Alcoa’s earnings, then more juice after September retail sales break a string of 12 monthly declines, and weekly jobless claims slide more than expected.
And it was another day of watch-the-dollar and see everything else go in the other direction. As the dollar fell yet again, gold hit another record close and crude pierces $72, though it closed at $71.69. Still, that was up 3%. Treasurys weren’t so hot, though, after a weak auction of 30-year bonds.