Wednesday was essentially the mirror image of what we had on Tuesday, markets gapped lower across the board on worries of inflation, highlighted by the oil closing above $100 and various other commodities breaking to new all time highs. By the end of the day though, the market had shrugged off the bad news and moved higher. The Dow closed up 90 points to 12,427.26, while the Nasdaq gained about 21 points, closing at 2327.10. Volume was higher on both exchanges, particularly so on the Nasdaq, where it surged 18% from the prior days level. Advancing issues led declining ones by 21 to 13 o[...]
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[Source: The Money Blogs]
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