Back from New York and feeling good. While there were many highlights from the trip, one of the cooler moments was getting to meet Aaron Task, host of Yahoo Finance's The Daily Ticker, while at TEDx Wall Street. Unfortunately I had to leave the conference early to catch a train to Phili, otherwise I would have gotten to meet Henry Blodget as well. Oh well, next time!
Travels aside, the to-the-point market recap today comes from Yahoo Finance, "U.S. stocks started the second quarter with a bang on Monday, with the S&P 500 climbing to a fresh four-year high as manufacturing data from the United States and China helped support the outlook for economic growth."
A look at the intraday action from my thinkorswim screen,
Fun Fact from tonight's SentimenTrader report,
This was the 6th time the S&P 500 managed to close at a 52-week high on the 1st trading day of traditionally-positive April. Each of the other five times, it gained ground over the next 2-4 days, but then struggled 3 of the 5 times. The years were 1936 (bad), 1943 (bad), 1954 (good), 1998 (mixed-to-bad) and 2010 (good).
Interesting Reads:
- A Look Inside at Apple's Foxconn's Factory (Bloomberg)
- Q1 2012 Market Summary (ZeroHedge)
- The Bizarre Calculus of Emergency Room Charges (LA Times)
- US Taxpayers waste $823,000 on a Las Vegas Conference, Agency Chief Resigns (Bloomberg)
Stay frosty out there.
Original post: April 2nd, 2012 Market Recap, S&P Hits Fresh 4 Year High