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Gurus' Recommended Asset Mix Doesn't Match Their Bullish Leanings
SAN FRANCISCO -- Here's a surprise: The bullish gurus were encouraged by last week's action. Today, the Dow Jones Industrial Average rose 1.2%, the S&P 500 added 0.6% and the Nasdaq Composite dipped 0.3% ahead of a slew of earnings after the close. Doubtless, the session did little to fetter the enthusiasm.
The market's ability to overcome negative news from a host of bellwether (mainly tech) names last week was "one small stride by the Nasdaq, one giant leap for investor-kind," according to Thomas Galvin, U.S. portfolio strategist at Credit Suisse First Boston. "Selling pressure has finally become discriminating." ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,441.12 | 1,109.18 | 2,206.91 | 35.96 |
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