Friday saw the Dow Jones industrial average edge higher, gaining 12.89 points (0.15 percent) to an unofficial close of 8,763.13, while the Standard & Poor’s 500 dropped 2.37 points (0.25 percent), ending the day at an unofficial 8,763.13, and the Nasdaq Composite closing virtually static. This is the eleventh out of thirteen weeks that the Dow has ended on a higher note and one of the reasons cited for this continued rally was the slowing pace of job losses as reported by the Labor Department on Friday. Employers cut 504,000 jobs in April and...
Despite the fact that the "stress test" results performed on nineteen U.S. banks revealed that ten of these will need substantial government assistance, Wall Street ended last week on a high, with Nasdaq advancing for nine weeks in a row, and the Dow and S&P 500 both rising for eight out of the past nine weeks. The government report that employers cut fewer jobs than was expected during the month of April also contributed to a glass-half-full mindset among investors and thereby boosting the market. Analysts agree that stock...
While the much-awaited bank "stress test" results are only due out after close of business on Thursday, investors have been responding with zeal to speculation, rumors and leaked information since markets opened on Monday morning. Despite the fact that most of the "information" doing the rounds indicates that anywhere between ten and fourteen of the banks being scrutinized are likely to be instructed by the government to raise capital, shares of all nineteen participants jumped on Monday. At least a dozen increased by more than 10 percent, with even...
Just when investors were starting to think that there would be no end to the downward spiral on the stock markets, concerns with regard to the U.S. economy and financial system eased up a bit in the past two days. This had a marked positive effect on global stock markets, as did the unexpected fall in oil prices. Moreover, solid results for some U.S. banks helped to stem the flow of negativity, while the announcement by the International Monetary Fund (IMF) that its 2008 global growth forecast has been adjusted to 4.1 percent from...
It is a succinct statement on the state of the economy.
”The delay in a rebound of US home sales continues to surprise”. The Boston Federal Reserve Bank President is not the only one nonplussed. Interest rate cuts have not worked. Where is the fix for the economy? Get back to basics for a solution.
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