Market Gives Back Some Early Gains, But Still Closes Higher

I didn’t get a chance to post a morning update today, but you can bet that I would have mentioned that I am always skeptical of strong market opens. And lo and behold, after midday, the market had given back all of those early gains.Fortunately, a late day rally helped the indexes finish in positive territory. Energy led the way, up +1.98%, followed by semis +1.02%. Biotechs lagged the most, -2.17%, followed by banks -0.92%.The market peaked when Ambac (ABK) was halted pending news. The rumors were that a major bailout that had been in the works for[...]

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[Source: The Money Blogs]