The Dow increased 1.17% closing at 10566.20, the Nasdaq was up 1.48% to finish at 2326.35 and the S&P was up 1.40% to finish at 1138.70. Actively Traded Leading Global & Sector ETF Plays: Coal- KOL +3.6%, SPDRS metals & mining- XME +3.6%, Steel- SLX +3.1%, Casinos & Gaming- BJK +4.0%, iShares S Korea- EWY +3.3%, iShares REITS & real estate- ICF +2.8%, IYR +2.50%, Commercial banks- KBE +2.50%, Russia- RSX +2.50%, iShares Australia- EWA +2.6%, Global shippers- SEA +2.2%, China 25- FXI +2.5%, Emerging mkts- EEM +2.6%, Regional banks- KRE +2.7%, RKH +2.2%, iShares hombuilding & construction- ITB +2.4%, iShares Brazil- EWZ +2.3%, iShares US broker/dealers- IAI +2.0%, iShares financials- IYF +2.0%. Actively Traded Lagging Global & Sector ETF Plays: VIX vol index- VXX -4.0%, US bonds- TLT -1.3%, AGG -0.2%, BND -0.2%, Yen currency shares- FXY -1.4%, TIP bonds- TIP -0.2%, Livestock commods- COW -0.2%. Today’s movement came from lower than avg. volume on the NYSE and higher than avg. volume on the Nasdaq (NYSE 1048 closing avg of 1161; Nasdaq 2344, 2219), with advancers outpacing decliners (NYSE 2581/478 Nasdaq 2152/554) and new highs outpacing new lows (NYSE 489/1, Nasdaq 253/8).
Solid performance for the market on Friday with the stock indices breaking above narrow ranges of the last few sessions to establish new rebound highs off the Feb lows (Russell 2000/S&P 400 joined by Nasdaq Comp at new 52-wk highs). The bullish bias of the last month and for the most part this week was extended in the wake of the slightly stronger jobs data (payroll -36 K vs. consensus -68 K; unemployment 9.7% vs. consensus 9.8%). The advance did stall after the first hour but narrow range trade just off the highs continued into the afternoon reflecting little selling interest. A late run across the board to new highs for the indices was noted in conjunction with the first positive Consumer Credit report (+$5.0 bln vs. consensus -$4.5 bln) since Jan 2009 with sideways action near the highs persisting into the close. Sector winners were led by: Biotech +4.1%, Coal KOL +3.6%, Casino BJK +3.3%, Steel SLX +3.1%, Disk Drive +2.6%, Reg Bank KRE +2.7%, Bank KBE +2.5%, REITs IYR +2.3%, Shipping SEA +2.2%, Solar TAN +2.1%, Broker IAI +2%, Networking +2%, Healthcare +2%, Ag/Chem MOO +2%, Energy XLE +1.9%, Gold Miners GDX +1.9%, Finance XLF +1.9%. Limited weakness was noted in Treasuries.