Thursday, August 30

Stocks to close, in the brush close to a four year-high

Tom Lee, Chief Equity Strategist at JPMorgan, gives three reasons why stocks are rally and while in the election will go.

At 4: 05 pm ET updated: Shares closed Friday at close to a fresh four year high, chalk a sixth straight week proposed profits, like a drop on Wall Street "Fear gauge" and profits in all sectors of the market has greater freedom of movement.

The NASDAQ rose Apple's shares all-time high reached.

The S & P 500 made a solid movement exactly 1400 above sea level in the last session observed posting its biggest gain in two weeks. The S & P 500 had to 1,419.04 above, to close its April high, a new four-year high. It closed Friday less than a point below this level.

"From the perspective of the mood on the market little prevent it in the procedure above, has," said Ralph Edwards, Director of the derivatives strategy at ITG in New York.

He said "the best rallies are the widest course, so it makes sense, in real-time view, the shares, the consumables are the index to ensure that the progress not only on the shoulders of a sector is carried out". "The news is also good."

Tom Lee, Chief Equity Strategist at JPMorgan, said that he expected that to gain share in the choice of the beginning of May.

Lee pointed bases, in particular in housing construction activity on the improvement in the second half, he said that "really build some economic growth, or it has been maintained."

Fund managers have become bear market, he told CNBC.

"We think it will be a great hunt in election day," said Lee pointed out that his target for the S & P-500-index has increased and now expects, that they the 1,475 level by early November-made an increase of 4 percent from its current rate.

CBOE VIX volatility index, that less concerned have been seen as a measure of the concern of investors on Wall Street, hit a 5-year low on Friday, fell by 6 per cent to 13.47 in a sign that investors are about the danger, as they.

With a few headlines and easy participation during the summer holidays the dealer take their inspiration from market increasingly technical data.

Shares in Apple Inc jumped up intraday all-time high of $645.48 earlier in the session. Broker of Jefferies raised its price target on the stock to $900 from $800 and there was a 'buy' - review.

But still after lockup push Facebook shares to some of the shares of the company after its IPO. The shares fell more than 4.3 percent to a record low of $19.01.

GroupOn Inc sank to a new deep on Friday after Evercore Partners analyst Ken Sena shares of the largest business daily company downgraded and set a price target of $3 on the stock exchange.

The S & P 500 has risen nearly 11 percent and 2.6 percent in August for a year in June, as traders some encouraging US jobs data and policies anticipated eyes meet reserve at the European Central Bank and the Federal in September.

The economic data on Wednesday was mixed, let investors questions whether the recovery was real.

The Thomson Reuters/University of Michigan survey of consumer sentiment for August rose to its highest level since May to 73.6, supported by sales at retailers and low mortgage rates.

Separately, said the Conference Board of its economic index climbed 0.4 percent, reversal of a decline of 0.4 percent show in June and to slow growth by the end of 2012.

"It's interesting, because we've had this colorful mixture of the economic data." Today is a good step and yesterday was a little disappointing, with the housing data, so we are all possible questions, this genuine recovery? ", said Ryan Detrick, senior technical strategist, Schaeffer investment research in Cincinnati, Ohio.

Trading volume multiple sessions was lean about the past in a seasonally slow time, could even lighter heading into the weekend. This week the lowest and second lowest, has seen full-day trading volume of the year.

The S & P rallied 10, six days by August reinforced by the anticipation of further action by central banks in the United States and the euro zone.

The S & P-500 rose to a four month peak on Thursday after comments by German Chancellor Angela Merkel the expectations of investors to tackle the debt crisis in the euro zone increased.

Gap expanded after the clothing retailer posted higher first-quarter profit and raised its forecast for full year raised.

Marvell Technology Group Ltd had published the chipmaker in the second quarter expectations can miss result and current quarter referred to.

Reuters contributed to this report.

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