Dow Advances 157.14 to 9,920.00
DOBBS: On Wall Street today, stock prices moving higher, second day in a row for a rally. The Dow, back-to-back triple-digit gains, despite economic signs showing some signs of weakness. A solid profit report from Procter & Gamble, however, sent the Dow up 157. The Nasdaq gained 20 points. The S&P; 500 rose 16. And Christine Romans, who covers the markets, is here to tell us what is going on.</s>CHRISTINE ROMANS, CNN FINANCIAL NEWS CORRESPONDENT: And after the bell, Disney came out and beat the Street's expectations. It is trading higher as well. So maybe that will help the Dow tomorrow, like Procter & Gamble helped it today. Procter & Gamble shares up four percent, almost a two-year high for P&G.; And also, you had United Technologies and the defense stocks rallying sharply. Donald Rumsfeld out there saying major military spending upgrades are going to be needed. PNC Financial Services also up, erasing some of its recent losses earlier this week. That company said it was restating some financial results and it rallied two points today after losing some ground before. Now Tyco also, the most actively traded stock again here today, up about 30 cents. Talks that Honeywell may be interested in Tyco's assets helping there. But Elan Pharmaceuticals, at the bottom of your screen there, very choppy behavior today. It closed down about a point after see- sawing. Its investors still questioning how it books its licensing fees as revenue. Now, they say on Wall Street, as goes January, so goes the rest of the year. January was down, Lou, down about one percent for the Dow; worse for the S&P; 500. We've got to wait another 11 months to find that out.</s>DOBBS: Well, since we didn't get the January effect, how about February?</s>ROMANS: Well, the last three Februarys, Lou, have been down. And they have been painfully down, a couple of those. So, we'll have to see if we can break that streak, perhaps.</s>DOBBS: OK. Well, we get to start the process</s>ROMANS: Right.</s>DOBBS: Christine, thank you very much. Coming up next, I'll be talking with Joe McAlinden of Morgan Stanley Investment Management about the direction of this market. Stay with us.