Stocks Post Nice Gains Again

U.S. stocks closed with triple digit gains in the Dow Industrials again on Thursday as traders were impressed with some of the retail sales reports out today, as well as Treasury Secretary Geithner's comments that the capital gains tax rate will remain at 20%. This takes away some concerns of investors and private equity firms that their profits could be taxed as ordinary income at the top rate, which is scheduled to rise to over 39% next year when the Bush tax cuts expire.

More later.

Scott Cole
www.kungfutrader.com