Stocks extended an earlier rally as investors celebrated a better than expected November jobs report. The S&P 500 bounced back into positive territory for the year. ECB President Mario Draghi also boosted markets after assuring markets the central bank would respond again with further stimulus without delay if the circumstances called for it. Stocks were beaten up on Thursday after the ECB came out as slightly less dovish than investors had hoped for. An E.Coli outbreak at Chipotle (CMG) has spread to three more states: Illinois, Maryland and Pennsylvania. The outbreak has spread to nine states and affected 52 people. Avon Products (AVP) surged on reports it is close to selling its struggling North American business.
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.