Stocks finished higher on optimism about a recovery in retail sales. Among others movers, Fannie Mae and Freddie Mac both rallied after the Treasury Department removed its $400 billion cap on the amount of money it will spend to keep the companies afloat. The market lost steam in the afternoon and then recharged by the close. Stocks have now risen for six straight sessions. However, the upside seen limited. QQQQ implied volatility inched higher.
Monday, December 28, 2009
Hit new highs
Stocks finished higher on optimism about a recovery in retail sales. Among others movers, Fannie Mae and Freddie Mac both rallied after the Treasury Department removed its $400 billion cap on the amount of money it will spend to keep the companies afloat. The market lost steam in the afternoon and then recharged by the close. Stocks have now risen for six straight sessions. However, the upside seen limited. QQQQ implied volatility inched higher.
