U.S. equities started the year in the green, rising 3% to hit a two-month high on the first day of trading.
Volume was thin, as many people took a 4 day weekend with New Years Day falling on a Thursday (rookies are manning the terminals!).
Still, following the market’s worst annual drop in 8 decades, its better than a sharp stick in the eye.
One last thing: Don’t buy the hype! Comments like “Stocks are attractively priced” or “Its a new year” are frighteningly ignorant.
The more likely reason is that there is a) no more tax selling, 2) funds have cash to put to work in the new quarter; iii) lite volume means shars can get pushed around. YMMV.
via Google Finance