The stock market managed to finish barely higher this week, but there seems to be some soul-searching over how justified the 2009 run-up is.
The market got a wake-up call from one pundit on this Web site -- Doug Kass -- who said this week that the market is probably near a top. What made many take notice is that Kass accurately called the bottom in March. Friday's mixed session did little to change the major U.S. indices' performance for the week. The Dow Jones Industrial Average and Nasdaq each rose 0.4%, and the S&P 500 added 0.3%. The S&P 500 and Nasdaq are both headed for their sixth straight winning month. It was an odd week in which the NYSE saw government-bailout plays like AIG(AIG Quote), Fannie Mae(FNM Quote) and Freddie Mac(FRE Quote) driving trading volume. AIG finished up 53% in one week. (TheStreet.com's Lauren LaCapra took a look at AIG's baffling rise in this most-read story on our Web site Friday. Also check out our series on Fannie and Freddie's financials from Australian blogger John Hempton. So, will Wall Street heed the clarion top call of Doug Kass and start scaling back on equities? Or will this bull charge ahead as we approach the fall? Let us know by voting in our poll below.![]() |
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,491.08 | 1,114.94 | 2,214.21 | 35.65 |
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