SMF Notes S&P 500 & Dow Jones Stock Market Index Commentary 2011 & 2012 Preview

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Comment by ken flagg on November 13, 2011 at 9:16pm

SMF Notes Risk On’

“It’s like investors hit the keystroke to risk on,” Mark Luschini, chief investment strategist at Philadelphia-based Janney Montgomery Scott LLC, which manages $54 billion, said in a telephone interview. “The European situation is seemingly coming to some closure and a decent consumer confidence report brought investors to risk assets.”

Walt Disney climbed 6 percent, the most in the Dow, to $36.70. Higher fees from pay-TV operators, advertising gains and improved results at resorts drove revenue and profit growth. Audience ratings for ESPN increased 13 percent in the quarter, according to Nielsen data provided by Barclays Capital. Disney resorts benefited from higher ticket prices and a new ship.

Nvidia Corp. (NVDA) advanced 3.5 percent to $14.98. The maker of graphics processors reported third-quarter sales and profit that topped analysts’ estimates, lifted by demand for chips used by computer gamers and designers. Nvidia has been winning market share in sales of graphics processors for desktop PCs from Advanced Micro Devices Inc. (AMD), according to Patrick Wang, an analyst at Evercore Partners Inc. (EVR)