Weekly Market Review ~ Friday, 11/23/12
More positive housing data coupled with optimism that an economic fiscal cliff can be avoided sent stocks soaring on Monday, as the Down gained over 200 points. On Tuesday stocks were largely unchanged as the momentum from the previous two sessions’ gains was dampened by Fed Chair Ben Bernanke’s warning that the Fed has only limited resources to counteract a recession brought about by the failure of Congress and the President to enact a viable economic plan. Light volume marked the day on Wednesday prior to Thanksgiving, with the major indexes making moderate gains. The week ended on Friday with another very healthy gain as a cease-fire in he Middle East as well as encouraging economic news from China led US stocks higher.
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