By: Forbes Real Time
April 29, 2013 at 10:52 AM EDT
Market Maintains Momentum, Casino Stocks Pay Off
Stocks are opening higher, with the S&P 500 up 0.5% Monday morning. The market looks to close out its sixth straight positive month. After an impressive five-day bounce off the 50-day moving average, the S&P 500 rested on Thursday and Friday, which is healthy. On Friday, we saw the market shrug off a weak GDP reading, that also included very weak expectations for GDP growth next quarter as the sequester cuts come to roost. Combine that with a weak jobs report last month and the economic picture right now is not pretty, but the market doesn't seem to care.
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