Last Hour Rally Lifts Dow

By Stock MarketsDec 28, 2012 04:23AM ET
Last Hour Rally Lifts Dow
By   |  Dec 28, 2012 04:23AM ET
Asian markets traded mostly higher on Thursday, despite ongoing “fiscal cliff” concerns. The Nikkei climbed .9% to 10323, as the yen continued to drop, boosting exporters. Toyota shares rallied 2.6% after settling a class action lawsuit in the US relating to engine malfunctions. The Hang Seng rose .4% to 22620, and the ASX 200 ticked up .3% as trading resumed after a 2 day break.

Rising commodity prices lifted mining shares in Europe, as the FTSE 350 mining index climbed 1%. The CAC40 advanced .6% to 3764, and the DAX ticked up .3% to 7656.

The Dow fell as much as 151 points in the afternoon as hopes for a “fiscal cliff” deal faded, before staging a rally in the final hour, after the House of Representatives announced it would convene for an extra session on Sunday evening. The Dow settled down 18 points to 13806, after dropping as low as 12964.
Dow Jones Indu Average Index
Dow Jones Indu Average Index

Oppenheimer lifted its price target on Domino’s Pizza to $50 from $44, sending shares up 1.1% to 43.28.

The Yen’s retreat continued, as the Japanese currency fell .7% against the Dollar to 86.09, and .8% against the Euro to 113.95. The Pound declined .2% to 1.6099, and the Euro managed a slight gain of .1% to 1.3236.

Economic Outlook
The Conference Board’s consumer confidence index dropped to 65.1 from 71.5, way below forecasts for 70.3. New home sales rose by 16K to 377K, but fell short of forecasts for 382K.
Last Hour Rally Lifts Dow

Related Articles

Last Hour Rally Lifts Dow

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at’s discretion.

Add Chart to Comment
US 30
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: BinaryOptionStrategy does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes education material, price quotes and charts, and analysis. Please be aware of the risks associated with trading the financial markets; never invest more money than you can risk losing. The risks involved in trading binary options are high and may not be suitable for all investors Binary Option Strategy doesn't retain responsibility for any trading losses you might face as a result of using the data hosted on this site.The data and quotes contained in this website are not provided by exchanges but rather by market makers. So prices may be different from exchange prices and may not be accurate to real time trading prices. They are supplied as a guide to trading rather than for trading purposes.