The markets recovered losses caused by the Dubai debt default after several reports out of the economy signaled continuing improvements in our recovery.  The Dow and S&P were each up more than 1.2% while the Nasdaq led the indexes higher with a gain of almost 1.5% on the day.  Today’s gains have left the Dow at it’s highest level in 14 months while Gold hit yet another record high above $1,200 an ounce.  Auto sales were reported and they were down from October of this year but better than last years numbers.  After hours however GM CEO Fritz Henderson announced his resignation from the company. Pending home sales rose by almost 4% this past month marking the ninth straight month of increases.  The numbers were expected to be a loss of 1% so the upside surprise certainly helped stocks. AIG helped to boost it’s stock today when the company announced it will eliminate $25 billion in debt to the government by selling two subsidiaries.  This news was welcomed by investors which sent up AIG shares almost 9% on the day.

Fiscal Frenzy Portfolio Challenge

There is still time to sign up for this free challenge in which you start with $100,00 (hypothetical) and invest it in any stocks you choose.  Every two months the best portfolio will be selected and the winner will be sent a $20 Apple or iTunes gift card. To join the game simply follow the link and register for free with the site we are doing the contest through.  It is a private game and the password to get in is “FiscalFrenzy” (case sensitive). Thank you all for playing and we hope you enjoy this portfolio challenge!

http://vse.marketwatch.com/Game/StartViewGame.aspx?id=FFChallenge