ByWILL SWARTS
A combination of accounting and policy shifts spurred a broad-based rally Thursday as financial services and technology stocks notched gains. The Federal Accounting Services Board said it would relax mark-to-market accounting rules, clearing the way for banks to make their balance sheets look better, a move long sought by many investors. The Dow Jones Industrial Average gained 216 points to close at 7978. For a complete rundown on Thursday s trading session see our market story.
Winners
Investor optimism spurred interest in transportation stocks, giving a 7.9% boost to the iShares Dow Jones Transportation Average Index fund (IYT). Crude prices climbed above $56, spurring the iPath S&P GSCI Crude Oil Total Return fund (OIL) 8.4%.
Losers
Gold dipped to $905 an ounce, knocking back shares of the Market Vectors Gold Miners (GDX) by 3.9XX%. SPDR Gold Shares (GLD) declined 2.5%.
Friday s Notebook
Earnings and Conference Calls
American Tire Distributors, Blyth
Economic Data
8:30 a.m. March Non-Farm Payrolls
8:30 a.m. March Unemployment Rate
10:00 a.m. March ISM Non-Manufacturing Index
A look at how the industry's most popular ETFs did on Thursday:
| Symbol | Net Assets | Price | 52 Week High | 52 Week Low | Volume |
|---|---|---|---|---|---|
| SPY | 62,704 | 83.43 | 142.85 | 68.13 | 462,981,629 |
| EFA | 23,224 | 40.31 | 78.53 | 32.16 | 53,694,153 |
| EEM | 17,026 | 27.02 | 51.72 | 19.12 | 106,417,682 |
| GLD | NA | 88.8 | 97.24 | 70.14 | 24,775,270 |
| IVV | 12,951 | 83.63 | 143.08 | 68.24 | 10,095,828 |
| QQQQ | 10,264 | 31.76 | 50.58 | 25.51 | 209,109,332 |
| IWF | 7,987 | 36.7 | 60.06 | 30.49 | 5,736,343 |
| SHY | 7,281 | 84.02 | 85 | 82.11 | 996,676 |
| VTI | 7,626 | 41.58 | 71.09 | 33.75 | 5,413,311 |
| IWD | 5,831 | 42.68 | 78.53 | 34.22 | 3,889,130 |
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