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newAsian stocks climb amid European developments,Plans Over New Stimulus To Boost Confidence

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posted on Oct, 7 2011 @ 02:46 AM
Source CBC

Asian stocks climbed Friday after Europe's move to backstop troubled banks and Britain's plan to pump more stimulus into its fading economy gave a boost to confidence.

"We're seeing a lot of buying today basically because markets have bounced off their lows so a lot of people are covering their shorts ahead of the weekend" before stock prices increase further, said Andrew Sullivan, a sales trader at Piper Jaffray Asia Securities Ltd. in Hong Kong.

The moves gave hope to global financial markets and were a sharp turnaround from the beginning of the week, when stocks tumbled on fears that European policymakers were acting slowly and indecisively to contain the debt crisis.

Interesting line here

"To some people that might indicate that jobs number is going to be worse than the market is expecting."

Thats funny that they are saying that the jobs data from america is going to be worse then the markets have expected it?

Heres more from the cheerleaders of the stocks market watch
Source Market Watch

Anyone have any thoughts on this? are they just preventing the market crash?

posted on Oct, 7 2011 @ 02:58 AM
I suppose they have the right to the same stupidity Bush pulled way back when the public crisis side of this really gained ground here in America. We tried turning on the cash taps and said it would be a one shot stimulus to bring stability to the situation, too. America failed.

....The taps were never turned off and our water bill is coming due with nothing in checking to pay it with. I seriously doubt it will take a fraction of the time for Europe/England to reach the same dismal point by the same very poorly thought out approach.

I'd hope that Europe and the UK were more intelligent than this. It was just last year they were balking at Obama's near demand that they use stimulus to help the 'global economy'. That gave a little they're on the Titanic right along side us. At least the trip to the bottom won't be lonely.

edit on 7-10-2011 by Wrabbit2000 because: typo


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