Market Reflections 7/20/2009

A third straight solid gain for the LEI as well as reports that business lender CIT has reached a deal with bondholders boosted the S&P 500 to its highest close since November, at 951.13 for a 1.1% gain on the day. The move into risk pressured the dollar with the dollar index down 0.7 percent to 78.87. Demand for risk along with the weakness in the dollar made for strong gains in commodities with oil ending near $64.50 and gold near $950.