Dow Average Rises to Five-Year High on Economic Reports – Bloomberg 01-17-13

Salient to Investors:

Jack Ablin at BMO Private Bank said the economic head start helps build a nice story for 2013.

71 percent of the 52 S&P 500 companies so far reported have beat analysts forecasts.

Laszlo Birinyi said he purchased options to bet the S&P 500 will rise more than 8 percent by the end of 2013 as more investors are attracted to the rally. Birinyi said the last phase of the bull market is very strong.

 EPFR Global report investors added a record $3.1 billion into US equity mutual funds in the first week of January versus withdrawal of $250 billion over the last 4 years.

Read the full article at http://www.bloomberg.com/news/2013-01-17/u-s-stock-futures-little-changed-before-earnings-data.html.

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