Latest Rally Pushing These Blue Chips to New Heights

The big move we’ve all been waiting for is finally here – though not necessarily in the direction most analysts thought.

U.S. financial markets broke out of their month-long rut today, vaulting close to 2% as of 2:30 eastern time this afternoon. It’s the biggest one-day move stocks have made since August 3.

Given that U.S. markets were already trading close to four-year highs and that September is a notoriously bad month for stocks, many analysts expected the latest swing to go the other way.

But some strong economic data and the announcement of a bond-buying program by the European Central Bank is pushing the markets to levels not seen since late 2007.

Many of the most recognizable stocks on the market are hitting 52-week highs today. The following blue chips have already done so:

Exxon Mobil (NYSE: XOM)

New High: $89.25

Previous High: $88.91

Today’s Move: +1.7%

Google (NASDAQ: GOOG)

New High: $699.13

Previous High: $688.99

Today’s Move: 2.5%

Procter & Gamble (NYSE: PG)

New High: $68.23

Previous High: $67.95

Today’s Move: 1.3%

Wells Fargo (NYSE: WFC)

New High: $34.95

Previous High: $34.80

Today’s Move: 3.2%

Amazon (NASDAQ: AMZN)

New High: $252.28

Previous High: $251

Today’s Move: 1.1%

Amazon is actually hitting an all-time high. Procter & Gamble is at a four-year high. Google is within a couple dollars of reclaiming the $700-per-share mark for the first time since late 2007.

It’s all good for stocks right now. At least until tomorrow’s jobs report.

Published by Wyatt Investment Research at