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Stocks Look Poised for Continued Gains

August 14, 2012

Although investor attention seems focused on a number of well-known downside risks (including the European debt crisis, hesitant US economic growth and the pending US fiscal cliff), stocks have continued to climb higher and last week notched their fifth consecutive week of gains.
-Bob Doll, senior advisor, Blackrock

 

Stocks Rising Despite Risks

Although investor attention seems focused on a number of well-known downside risks (including the European debt crisis, hesitant US economic growth and the pending US fiscal cliff), stocks have continued to climb higher and last week notched their fifth consecutive week of gains. For the week, the Dow Jones Industrial Average climbed 2.0% to 13,207, the S&P 500 Index advanced 1.7% to 1,405 and the Nasdaq Composite rose 1.1% to 2,958. With these gains, US stocks are now up comfortably into double-digit territory for the year, with lower risk, higher quality, large caps and growth styles leading the way.

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