Stock market taking cues from overseas strength


Market Snapshot for January 2, 2011 (9:00 p.m. ET):

Closing Prices: DOW 12,397.38 (+179.82, +1.47%), S&P 500 1,277.06 (+19.46, +1.55%), NASDAQ 2,648.72 (+43.57, +1.67%), Nikkei 225 8,560.19 (+104.84, +1.24%), DAX 6,166.57 (+91.05, +1.5%), FTSE 5,699.91 (+127.63, +2.29%)

OIL 102.83, GOLD 1,601.60, SILVER 29.355

EURO 1.3045, YEN 76.64, BRITISH POUND 1.5643, U.S. DOLLAR INDEX 79.97

Market Jumps into New Year

The market had little to go on domestically as the new year began, so it took its cues from strength overseas. While unemployment is still running high in many countries, Germany reported its lowest unemployment rate in two decades. Additionally, China, which has been on everyone's radar recently after showing signs of a slowdown last year, reported a rise in services and manufacturing in December. The result was a strong opening gap in the indices Tuesday morning for the first day of trading in 2012.

Dow Jones Industrial Average (Figure 1)

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