Stocks Enjoy Santa Claus Rally

Strong earnings from Research in Motion and news that Merrill Lynch might get a cash infusion from a Singapore fund helped spark buying ahead of the holiday weekend

Santa Claus arrived on Wall Street early on Friday, as the major indexes all rose at least 1.5% ahead of the Christmas holiday. Strong profits from Research in Motion (RIMM) and news that Merrill Lynch (MER) may be getting a cash infusion helped spark the buying. There was also stronger than expected spending data, while investors seemed to overlook inflation signs.

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