September S&P finished up 12.2 at 2470, 1.8 off the high and 11.7 up from the low. September S&P E-Mini closed up 13.5 at 2471.25. This was 13.5 up from the low and 0.5 off the high.
Once again, equity markets charged into new all-time high ground helped in part by fresh merger and acquisition news, favorable US housing starts and permits data and perhaps because of a rate of hope that some bipartisan effort might be seen on the healthcare reform effort. Even more impressive is the fact that stocks managed their gains today despite overt weakness in bellwether issue IBM. In fact the market also overcame underperformance by Goldman relative to Morgan Stanley.