WINDERMERE, Fla. (Stockpickr) -- U.S. stocks are soaring today as signs of stabilization in Europe and better-than-expected consumer sentiment are sparking big buying among investors.
Stocks pushed into daily highs after consumer sentiment data showed a bullish reading. The preliminary Thomson Reuters/University of Michigan consumer sentiment index for November came in at 64.2, which was well above the 60.9 reading in October.
At last check, the market was reacting very bullishly to the news, with the Dow Jones Industrial Average up over 260 points and the S&P 500 up over 20 points. The tech-heavy Nasdaq was surging by over 50 points. Stocks are also pushing higher today as large traders chase performance as we enter a seasonally bullish time for equity prices.
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