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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]
" 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
" 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."
" 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."
" 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."
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)
Originally posted by rattan1
I have already put my money on that and my portfolio has almost tripled its value.
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.