EU Strikes Deal and US Markets Pop – DJIA Up +2.2%

U.S. markets soared Friday, with all three indexes closing out the first half of 2012 up more than 5%. The Nasdaq managed to get double-digit gains.

A deal Thursday among European leaders to help struggling eurozone banks buoyed global markets Friday, easing investors’ fears over the viability of the eurozone.

The Dow had one losing component Friday, JPMorgan Chase (JPM) probably due to the mounting “London Whale” trading losses now estimated to be between $5 and $9 billion.

DJIA gainers were led by BAC (+5.68%), CSCO (+4.19%), UTX (+4.04%), HPQ (+3.87%),and BA (+3.8%).

The dollar slipped against the euro, British pound and Japanese yen.

Oil for August delivery was up $7.27 to $84.96 a barrel.

Gold futures for August delivery rose $53.80 to $1,604.20 an ounce.

The price on the benchmark 10-year U.S. Treasury was down, pushing the yield up to 1.65% from 1.58% late Thursday.

For the week, DJIA was up +1.9%, Nasdaq +1.5%, S&P 500 +2.0% and Russell 2000 +3.0% capturing most of it today.

Year-to-date, DJIA was up +5.4%, Nasdaq +12.7%, S&P 500 +8.3% and Russell 2000 +7.8%.

Today, we also got new 52 week highs from DIS, KO, MRK, VZ and WMT.

New High of the Day – Walt Disney Co. (DIS).

New High of the Day – Coca Cola (KO).

New High of the Day – Merck (MRK).

New High of the Day – Verizon (VZ).

New High of the Day – Wal-Mart (WMT).

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