Stocks rose on low volume on Thursday as data showed improvement in housing and the job market a day ahead of the critical monthly payrolls figures.
Investors built on Wednesday's sharp advance as indicators provided the latest reason for optimism the economy could avoid another downturn. But the nascent rally could be derailed if Friday's jobs data disappoints investors.
"Money seems to be flowing out of bonds and into the stock market," said Ryan Detrick, senior technical strategist at Schaeffer's Investment Research in Cincinnati.
"Obviously, tomorrow comes the big news with the employment data. But in the near term, it shows how explosive rallies can be when we get decent economic data, because the market is pricing a double-dip recession."
Technically Dow broke up side after 2 hrs consolidation...
Dow Jones Industrial Average
(DJI: ^DJI)| Index Value: | 10,320.10 |
|---|---|
| Trade Time: | 4:02PM EDT |
| Change: |  50.63 (0.49%) |
| Prev Close: | 10,269.47 |
|---|---|
| Open: | 10,270.08 |
| Day's Range: | 10,253.96 -10,320.37 |
| 52wk Range: | 9,252.93 -11,309.00 |
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