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US STOCKS-Market jumps as confidence data fuels economy hopes

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posted on May, 26 2009 @ 07:04 PM
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US STOCKS-Market jumps as confidence data fuels economy hopes


www.reuters.com

NEW YORK, May 26 (Reuters) - U.S. stocks climbed more than 2 percent on Tuesday as data showing the biggest monthly jump in consumer confidence in six years lifted hopes of an economic rebound, and a brokerage upgrade of Apple Inc drove sharp gains on the Nasdaq.

Apple's (AAPL.O) shares closed nearly 7 percent higher after Morgan Stanley said the iPhone will drive strong earnings growth over the next two years and raised its price target on the stock. For details, see [IDnBNG62341]
(visit the link for the full news article)


Related News Links:
www.reuters.com
www.reuters.com
www.reuters.com




posted on May, 26 2009 @ 07:04 PM
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Are we seeing the light at the end of the tunnel? Or is it just a small step towards the climb out of the whole we have dug ourselves?

The Markets around the world seem to be responding well except those in HK and China oh well.


Nikkei seen tracking Wall Street higher

" Nikkei futures traded in Chicago 2NKc1 closed at 9,505 on
Tuesday, up 1.8 percent from the Osaka close JNIc1, pointing to
gains at the start of the day.

"The Nikkei is expected to rebound after U.S. stocks came
back from holiday and rose. The dollar edging back up to 95 yen
is also supportive," said Hiroichi Nishi, a manager at Nikko
Cordial Securities."



European shares rise, boosted by US confidence data

" LONDON, May 26 (Reuters) - European shares closed higher on Tuesday after data showed U.S. consumer confidence at its highest level in eight months, outweighing investor worries about a North Korean missile launch.

The FTSEurofirst 300 .FTEU3 index of top European shares rose 0.9 percent to close at 865.14 points, having been as low as 842.26 earlier."


FTSE ends up 1.1 pct on U.S. confidence data

" LONDON, May 26 (Reuters) - Britain's leading share index ended 1.1 percent higher on Tuesday after data showed U.S. consumer confidence rose, with energy stocks, cigarette makers and food retailers leading the gainers.

The FTSE 100 .FTSE closed 46.43 points higher at 4,411.72, reversing earlier losses after the U.S. data and shrugging off concerns of heightening geopolitical tension on the Korean peninsula. Volumes on the FTSE 100 were at some 70 percent of the index's 90-day average daily volume. The bourse was closed Monday for a bank holiday."



HK, China shares lower in light turnover

" HONG KONG, May 26 (Reuters) - Hong Kong and China stocks retreated on Tuesday in light turnover as heightened political risks in the region and lower oil prices weighed.

The strong run-ups in both markets in recent weeks, with the Hang Seng Index jumping more than 50 percent since early March and the Shanghai Composite Index rising by nearly a quarter in the same period, have made investors cautious about valuations, said analysts."




www.reuters.com
(visit the link for the full news article)

[edit on 26-5-2009 by SLAYER69]



posted on May, 26 2009 @ 07:16 PM
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reply to post by SLAYER69
 


Hang Seng has been kickin I think its around 17000 now actually (not even close to high's of course)

You should make your way over to the up to the min. market thread..

I have been bullish for quite a while, not everyone feels this way of course..

We will be running into some resistance soon according to the charts..

These next 2-3 weeks will be telling for the summer/fall IMO (as is of many others)



posted on May, 26 2009 @ 07:16 PM
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No I'm not going to run right out and purchase a new car. But I'm glad to be hearing some good news. Since all I've been hearing lately with regards to the stock market is just being straight out bad. I wonder how long before all the greedy profit takers will drive it down again.



posted on May, 26 2009 @ 07:20 PM
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reply to post by SLAYER69
 


I have a lot of opinions slayer..

I dont think we will retest those lows again..

In fact, without getting too much into it (you can query the U2theMinThread) but NASDAQ could be making a breakout move soon with a little move higher (25-50 pts) and NASDAQ has been a leading indicator as to what DJIA and SP500 will do my friend..

Interesting times..



posted on May, 26 2009 @ 07:36 PM
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Enough with all this happy happy joy joy


Let's get real for a minute...

The markets will not only retest the lows, they will set new ones this year....

Ahhhhhh, that feels better now...

Carry On



posted on May, 26 2009 @ 07:38 PM
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reply to post by RolandBrichter
 


Was waiting for that..

So now that you have heard both sides...

lol



posted on May, 26 2009 @ 07:41 PM
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Originally posted by GreenBicMan
reply to post by SLAYER69
 


I have a lot of opinions slayer..

I dont think we will retest those lows again..

In fact, without getting too much into it (you can query the U2theMinThread)


I know I read through it but I also noticed that not everybody reads that thread and this is Breaking news so I thought I'd give others a chance to chime in.



posted on May, 26 2009 @ 07:41 PM
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We need to look at the big picture.

This jump in stock prices may reflect a trend that shows the profit of companys who are now poised to make money on thier international ventures.

They have trillions to play with.

The real economy is the economy we deal in everyday.
This "real" economy is not doing so well.

The good money is pointing toward developing markets and the guys running the show know this.

This is what the market is reflecting.

In my opinion the stock market has decoupled from the reality of the American economy.

[edit on 26-5-2009 by whiteraven]



posted on May, 26 2009 @ 07:52 PM
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reply to post by whiteraven
 


Give it 6-18 months for the economy to follow the "big board"

I promise, it will



posted on May, 26 2009 @ 08:07 PM
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reply to post by SLAYER69
 


Last week I thought the post November runup was going to fade so I sold a lot of good stocks that I had bought in December.

I based my purchases on low P/E rations, high earnings, good ratings and charts. Always a good way to buy stocks but in retrospect the best stocks would have been the severely beaten down fanancials and bank stocks that are up 50 to 100 percent since the collapse. But who wanted to buy those risky bank stocks back then!

Now I'm wondering when the best time is to buy back in now that we have all the good news.

The market is always cyclic, when it is beaten down it will go back up, when it is high it will go down.

I'm betting on a short term downturn, nothing catastrophic then another gradual upturn. For some reason people like to buy stocks even after they have behaved badly!



posted on May, 26 2009 @ 08:08 PM
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reply to post by plumranch
 


Buy at the lows of course!

IMO we have seen things at generational lows..

prob will never see BAC at 4 or 6 again

neither citi at .98 !

but in 10 years you might see both above 40

food for thought!



posted on May, 26 2009 @ 08:18 PM
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This is no surprise for me as early March I posted the following thread:

Global Meltdown is Over. Now is time to Make Money

I got so many negative comments from many members on the above thread and now most of them wished they had listened to me and jumped in the market early march. However, things are still very bad out there and there is a hight chance that the market will go down again but, it will not go bellow the March lows......I have already put my money on that and my portfolio has almost tripled its value.



posted on May, 26 2009 @ 08:20 PM
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reply to post by rattan1
 


True that..

I was bullish at 6800 or so on the dow when all major indicies broke through about a 6-8 month resistance.. cant remember exactly.. but still think I have the charts in my profile I was trying to convince people with lol (or screename xtc_savedmylife)



posted on May, 26 2009 @ 09:20 PM
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I am bullish on the emerging markets although I have yet to move on some....www.potashcorp.com...


also
www.cameco.com...


as a whole I see a longer period of economic trouble...with economic ops in Atomic Energy and food production.

Just an opinion.

PS Saskatchewan paid off 4 billion in debt this year...2009....and they sit on some very large untapped light sweet crude.

Only an opinion



posted on May, 26 2009 @ 09:59 PM
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Originally posted by rattan1
I have already put my money on that and my portfolio has almost tripled its value.


Bully for you!

I started buying physical silver and gold back in 99...now I don't have to worry what sort of ridiculous manipulation will be foisted on the stock investing public (because I don't own paper) on a day in / day out basis...now it's fun to watch!

Seriously, I'm glad you made some money, but if you think you can predict this Bizzarro market based on valuation, earnings, reason, logic and stochastic process..well good luck


Edit for SP

[edit on 26-5-2009 by RolandBrichter]



posted on May, 26 2009 @ 10:16 PM
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The market always explodes when there's a perceived foreign threat against the US. With North Korea setting off a nuke, shooting missiles, and rattling their saber hardcore, the market based on historical trends was bound to explode today and will probably ride this wave for the next week or two before evening out.



posted on May, 27 2009 @ 12:59 AM
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reply to post by CuriousSkeptic
 


Yeah but this bump was from a consumer confidence report which over rode that dire news



posted on May, 27 2009 @ 01:01 AM
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Originally posted by CuriousSkeptic
The market always explodes when there's a perceived foreign threat against the US. With North Korea setting off a nuke, shooting missiles, and rattling their saber hardcore, the market based on historical trends was bound to explode today and will probably ride this wave for the next week or two before evening out.


Most Asian indexes dropped....US goes up.

Things that make you go...hmmmm.

Military Industrial complex.



posted on May, 27 2009 @ 06:19 PM
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reply to post by rattan1
 


I just finished looking at several hundred charts and what I saw was a rally starting first of March peeking May first and trailing off now to a low somewhere between here and the March lows. That will be near mid June. We are in more of a lagging market now with the GM bankrupsy being perhaps the major factor to get resolved.

A June rally might last till October or November. I think I'll stay with stocks with low P/E, high ratings and earnings.



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