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Market Update : 
PPI and Retail Sales Drive Late Rally
Author: 123jump.com Staff
123jump.com
Last Update: 4:35 PM EST November 14 2006


Nasdaq average rose to a five-year high and S&P 500 neared six-year high on the back of late hour rally. Higher than expected drop of 1.6% in PPI and retail sales, excluding auto and gasoline, gained 0.4% suggesting a steady consumer spending and sparking a late hour rally in the market. The comments from Fed President William Poole suggested that rate hike is not likely in the coming weeks. Retailers, pharmaceuticals and manufacturing related stocks rose.

 

 

 

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