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Wednesday, December 1, 2010

Market Close Wrap-up -- December 1, 2010

" The major U.S. equity indices closed higher Wednesday, following a positive U.S. economic growth survey from the Federal Reserve.

The survey found that 10 out of 12 of the Fed's regions have experienced some form of economic growth.

Boston, Dallas, Atlanta, Cleveland and San Francisco reported a ""slight to modest"" pace of growth; Chicago, New York, Minneapolis, Kansas City and Richmond reported a ""somewhat stonger"" pace of growth; and Philadelphia and St. Louis reported mixed growth conditions.

The Fed reported a boost in sales for most retailers in the nation, as well.

In corporate news, most automakers reported sales gains during November, with Toyota Motor Corp. (NYSE:TM) as the exception.

Toyota reported a 3.3% year-over-year sales dip during the prior month, with 129,317 cars and trucks sold in the U.S.

However, General Motors Corp. (NYSE:GM), Honda Motor Co. (NYSE:HMC), Ford, Nissan, Chrysler and Hyandai all reported double-digit sales gains in November.

The Dow Jones Industrial Average (DJI) closed 2.27% higher at 11,255.78, the S&P500 (INX) closed 1.64% higher at 1,206.07, and the Nasdaq Composite (IXIC) closed 2.05% higher at 2,549.43."

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