Stocks are seeing small gains today with each of the major indexes closing in on 2012 highs. A couple of better than expected economic reports has stocks ending the week on a green note. Consumer sentiment saw a slight increase and hit its highest level since May according to the Thomson Reuters/University of Michigan consumer sentiment survey.
Many investors have been hopeful that another round of QE is coming, but with the recent run up in the markets many analysts are starting become less optimistic of further stimulus. Nomura Securitiesâ€™ analysts have cut their outlook for another round of stimulus in September to 40%.
With about two hours left in the trading day the Dow is up 4 points, the Nasdaq is 7 points higher and the S&P is up about 0.30 points. [Read more...]