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Latest Rally Pushing These Blue Chips to New Heights

By Wyatt Investment Research September 06, 2012, 02:46:00 PM EDT

The big move we've all been waiting for is finally here - though not necessarily in the direction most analysts thought .

U.S. financial markets broke out of their month-long rut today, vaulting close to 2% as of 2:30 eastern time this afternoon. It's the biggest one-day move stocks have made since August 3.

Given that U.S. markets were already trading close to four-year highs and that September is a notoriously bad month for stocks, many analysts expected the latest swing to go the other way.

But some strong economic data and the announcement of a bond-buying program by the European Central Bank is pushing the markets to levels not seen since late 2007.

Many of the most recognizable stocks on the market are hitting 52-week highs today. The following blue chips have already done so:

Exxon Mobil ( XOM )

New High: $89.25

Previous High: $88.91

Today's Move: +1.7%

Google ( GOOG )

New High: $699.13

Previous High: $688.99

Today's Move: 2.5%

Procter & Gamble ( PG )

New High: $68.23

Previous High: $67.95

Today's Move: 1.3%

Wells Fargo ( WFC )

New High: $34.95

Previous High: $34.80

Today's Move: 3.2%

Amazon ( AMZN )

New High: $252.28

Previous High: $251

Today's Move: 1.1%

Amazon is actually hitting an all-time high. Procter & Gamble is at a four-year high. Google is within a couple dollars of reclaiming the $700-per-share mark for the first time since late 2007.

It's all good for stocks right now. At least until tomorrow's jobs report.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: AMZN, GOOG, PG, WFC, XOM



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