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Hopefully this piece of news doesnt translate into the share prices of pharmaceutical companies nosediving south.
Just heard the news on radio that some Aussie medical researcher said that Bird Flu is no longer a serious threat... hope that's true!
With the cold season coming, I am more worried of bird flu .... and terror attacks!
If the reality of a steep recession does set in the US, stocks could start its decline
Basically the collapse of the oil and commodities markets had caused many hedge funds to lose money. Sensing that oil prices will go down further they have quickly switched into equities. With oil prices back to fundamental supply/demand factor and low interest rates, equities will do well. Dont see how Dow and the rest of the world can come off easily. Our own market has lots of funds into private placements of new ipos. They share the same mentally like us:-short term trading/quick money.
Nov. 18 (Bloomberg) -- U.S. stocks rose this week, lifting the Dow Jones Industrial Average to the biggest weekly advance in three months, after oil slumped and deals for airlines and media companies added to the busiest year of takeovers since 2000.
US Airways Group Inc. offered $8.67 billion for bankrupt Delta Air Lines Inc. to create the world's biggest passenger carrier, while Reader's Digest Association Inc., publisher of the world's biggest magazine by circulation, agreed to be taken over.
Steelmakers also jumped on speculation that U.S. Steel Corp. will be taken over by Russia's biggest producer, OAO Severstal.
The number of deals shows that ``the market overall is very cheap,'' said Jon Burnham, who oversees about $1.2 billion as chairman of Burnham Asset Management in New York. ``So you're going to see a lot of these companies get taken over.''
The Dow industrials rose 1.9 percent for the week to close at an all-time high of 12,342.56. The weekly gain was the biggest since the period ended Aug. 18. Intel Corp., the world's largest maker of semiconductors, had the Dow's biggest gain after Citigroup Inc. strategists raised their rating on the industry.
The Standard & Poor's 500 Index rose 1.5 percent to 1401.20 for the week and reached the 1400 level for the first time in six years. The Nasdaq Composite Index added 2.4 percent to 2445.86.
Both the Dow industrials and the S&P 500 posted weekly gains for a seventh time in eight weeks, while the Nasdaq Composite advanced for a third time in four weeks.