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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Stocks continue rally

UPDATED at 12:25 p.m.

Stocks are hitting their highest gains of the day, continuing a big surge out of the gates as trading began on Wall Street this morning.

As of 12:25 p.m., the Dow is up 1.3 percent.

The broader S&P 500 is up by about the same amount, and the tech-heavy Nasdaq is up 1.6 percent.

Stocks jumped out of the gate this morning as traders anticipated data on pending home sales and a widely watched index of U.S. manufacturing that came out at 10 a.m.

The data -- pending home sales surged, manufacturing retreated -- tamped down the opening gains a bit.

But since then, the rally has escalated throughout the day.

Today's surge is a good start to what -- over the past 100 years -- has been the stock market's best trading month, as I wrote this morning.

-- Frank Ahrens
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By Frank Ahrens  |  December 1, 2009; 12:25 PM ET
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500  
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