CLOSING BELL

Dow 10144.19  +105.81, Nasdaq  2177.41  +29.54, S&P 1078.47  +10.34 

The stock market continues to take its cues from the US dollar, falling as the dollar strengthens and gaining on the dollar’s weakness.  Today was no exception.

The market ignored a larger-than-expected decline in initial jobless claims to 440,000 and a continuing claims report that tallied of 4.54 million, a one-year low.  Traders also ignored China's softer-than-expected January consumer inflation reading.

The natural resource sector made the best gains today as both the materials sector and the energy sector gained +1.6%, more than any other major sector. More impressive was that they outperformed the broader market for the entire session, even in the face of a firmer dollar during the early going.

Large-cap tech also exhibited considerable strength this today helping the Nasdaq post the best gains.

Financial saw weakness today but still managed to post small gains. This on news that Gordon Brown, of the United Kingdom, indicated in a Financial Times report that leading economies are close to agreeing on a global bank tax. 

Advancing Sectors: Materials +1.6%, Energy +1.6%, Industrials +1.5%, Consumer Discretionary +1.1%, Tech +1.1%, Consumer Staples +0.9%, Health Care +0.7%, Utilities +0.5%, Telecom +0.5%, Financials +0.2%

Declining Sectors: None