Midday Tuesday, the U.S. stock market continued to climb. TD Bank of Canada of 63 billion acquisition of Chrysler Financial and other merger news, including some of the improved market sentiment.
At 11:58 on December 21 EST, the Dow Jones industrial average rose 45.15 points to 11,523.28 points, or 0.39%; the Nasdaq composite index rose 13.72 points to 2,663.28 points, or 0.52%; the S & P 500 Index rose 6.05 points to 1,253.13 points, or 0.49%.
Among the Dow 30 stocks, 24 stocks rose.
Institutional investors, chief investment officer of Fred Davidson Companies - Dixon (Fred Dickson), said Dow, "three times in the past 10 days has tried to close at 11,500 points at the top, but failed. It seems to be a very difficult to overcome technical resistance , scheduled for this week, the Dow is difficult to break through this level. "
Among S & P 500 index, financial shares led the gains, consumer staples sector lagged.
On Monday, S & P and the Nasdaq composite index closed at a new high in 2010. Some analysts believe that at such a high level in the stock market, many funds may take the initiative to increase the proportion of cash and time in the New Year is around the corner to take a more cautious stance.
U.S. institutional investors market strategist at Cantor Fitzgerald Mark - Pardo (Marc Pado), said, "It's like a self-fulfilling prophecy. If we can not suppress the market down, it will become stronger."
On Monday the U.S. stock market trading volume was light. Pado said, "Yesterday's trading volume was light, probably indicates an already light at the end of the stock market turnover in the year may become even more light than expected."
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