No #2

The Financial Daily - - ECON­OMY & CON­TIN­U­A­TION -

"You need well be­low that to get peo­ple wor­ried about a dou­ble-dip (re­ces­sion) and well above that to get peo­ple too wor­ried that the Fed is go­ing to tighten."

Stocks also ad­vanced as in­vestors re-al­lo­cated po­si­tions for the end of the quar­ter, with the S&P 500 up 5.5 per cent.

"They are sell­ing com­modi­ties, they are mov­ing back into in­dus­tri­als you've got a mini-mar­ket ro­ta­tion com­ing into your fi­nal cou­ple of days of the quar­ter, and that is the way the win­dow dress­ing takes place. It's also how the pre-po­si­tion­ing takes place for the start of the quar­ter," said Paul Men­del­sohn, chief in­vest­ment strate­gist at Wind­ham Fi­nan­cial Ser­vices in Char­lotte, Ver­mont.

The Dow Jones in­dus­trial av­er­age gained 73.42 points, or 0.60 per cent, to 12,352.43. The Stan­dard & Poor's 500 In­dex added 8.67 points, or 0.66 per cent, to 1,328.11. The Nas­daq Com­pos­ite In­dex rose 15.24 points, or 0.55 per cent, to 2,772.12.

In­vestors also were eye­ing the 1,330 level as a pos­si­ble re­sis­tance point for stocks, with the bench­mark S&P un­able to hold gains above that mark in its three pre­vi­ous at­tempts.

In the lat­est on the M&A front, Cana­dian drug maker Valeant Phar­ma­ceu­ti­cals In­ter­na­tional on Tues­day made an un­so­licited bid to buy Cephalon Inc for $5.7 bil­lion, driv­ing Cephalon's stock up 28.1 per cent to $75.25 while Valeant's US-listed shares shot up 10.4 per cent to $49.-Reuters

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