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Equities Rally on 'Black Friday'
By TradingMarkets Research | TradingMarkets.com | November 23, 2007
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The major indexes jumped across the board, boosted mostly by positive retail sentiments. Today is known as "Black Friday," and is generally considered to be one of the busiest days of the year for retail shopping. Stores and malls across the country have prepared for scores of holiday shoppers, all eagerly anticipating so-called bargains.

Whether or not Black Friday will accurately predict the final economic moments of 2007 for the U.S., today was a positive day for the markets. Retailers led the way, with Target (TGT | Quote | Chart | News | PowerRating) and Macy's (M | Quote | Chart | News | PowerRating) both closing higher by more than 5%.

The financial sector also managed a rebound, following a tough week. Lehman Brothers (LEH | Quote | Chart | News | PowerRating) rose just under 5%, while Bear Stearns (BSC | Quote | Chart | News | PowerRating) jumped over 3%.

Despite an up day in the equity markets, many traders had the day off today, and volume was light on account of the half day. Many are waiting to see what happens on Monday, and into next week, which will see a number of key economic reports from the U.S.

The dollar hit fresh lows against the euro today, and crude also inched back towards all-time records nearing $100 a barrel.

Market Snapshot

Dow

181.84 12980.88

NASDAQ

34.45 2596.60

S&P 500

23.94 1440.70
NYSE NASDAQ

Volume

670,356,730 796,074,320

Up Volume

621,530,980 667,702,369

Down Volume

46,508,850 120,437,711

Advances

2638 2129

Declines

546 683

New Highs

17 11

New Lows

100 124

Strongest/Weakest Industry Groups

Strongest Industries

% Change

Weakest Industries

% Change
Mortgage Finance +6.23% Aluminum -0.01%
Shipping
+5.18%
Food
-0.06%
Home Construction +3.73% Electric Utilities
-0.11%

Economic News
No news to report for today.

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