U.S. Equity Markets had strong gains this week with the Dow surging 7.01%; S&P 500 jumping 7.39%, and the NASDAQ rocketing 7.59%.
Year-to-Date (YTD), the Dow Jones Industrial Average, (DJIA) is up 3.82%; the S&P 500 is down 1.05%; and the NASDAQ is down by 0.98%.
In the mean time, the Federal Deposit Insurance Corporation (FDIC) didnt close any banks weekend, leaving at 90 the number of banks it closed this year through December 3. At the same time last year, the FDIC had already closed 149 banks, up from the 130 banks closed in the same period back in 2009. Only fifty banks were closed for all the eight years of the Bush Administration, including 25 in 2008.