Markets posted strong gains on fading European debt worries

Dow gained 259, advancers over decliners almost 6-1 & NAZ was up 53.  Bank stocks had a good day with the Financial Index rising 4 to 178.  The Alerian MLP Index was up 1 to the 365s, REIT index rose 5 to the 227s & junk bond funds were flattish.  Treasuries had the day off   Oil kept climbing, up 1+ to 99, & gold shot up 30 to 1788.

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Markets had an excellent day.  In the last 2 days, the Wed losses were pretty well recovered.  Dow was up 160 last week & 200 in Nov (following the strong Oct).  Today traders were heartened that they didn't hear negative news from Europe.  However, European debt fears should be alive because they have not gone away.  Next week, the discord  in DC over how to reduce the federal deficit will take center stage & that will get ugly because there is little agreement between the Reps & Dems.

Dow Industrials (INDU)

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