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Dow up 43 points and Nasdaq up 6 points now .... ----------------
Consumer sentiment index dips in March
By Rex Nutting
Last Update: 10:07 AM ET Mar 30, 2007
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Dow up 45 points and Nasdaq up 7 points now after below econ data .... Shiok!
MARCH CHICAGO PURCHASING MANAGERS 61.7% VS. 50.0% EXPECTED
Morning Times:
NEW YORK - Wall Street advanced Thursday after a government report showed the economy grew in the fourth quarter at a faster clip than had been estimated.
The Commerce Department's final measure of fourth-quarter gross domestic product, which showed growth of 2.5 percent, could help quell concerns that economic growth is slowing too quickly. At the same time, strong economic growth could make it harder for the inflation-wary Federal Reserve to cut short-term interest rates.
Investors also bought stocks as they dressed up their portfolios ahead of Saturday's end of the first quarter. Another acquisition announcement helped boost stocks. U.S. Steel Corp. struck a deal to buy Lone Star Technologies Inc. for about $2.1 billion.
In morning trading, the Dow Jones industrial average rose 45.02, or 0.37 percent, at 12,345.38.
Broader stock indicators also moved higher. The Standard & Poor's 500 index was up 6.15, or 0.43 percent, at 1,423.38, and the Nasdaq composite index added 7.85, or 0.32 percent, at 2,424.95. The Russell 2000 index of smaller companies was up 4.20, or 0.53 percent, at 801.60.
In afternoon trading, Britain's FTSE 100 was up 0.68 percent, Germany's DAX index added 0.45 percent, and France's CAC-40 was rose 1.22 percent.
Bonds weakened, with the yield on the benchmark 10-year Treasury note rose to 4.63 percent from 4.62 percent late Wednesday. The dollar fell against other major currencies, while gold prices tumbled.
Oil settled at its highest level since mid-September on Wednesday amid continued political tensions in the Middle East and as weekly government inventory data showed a decline in stores of crude oil, gasoline and distillates. Light, sweet crude rose 67 cents to $64.75 per barrel in premarket trading on the New York Mercantile Exchange.
The recent rise in oil prices generally poses a concern as increased energy costs could curb consumer spending and add to inflationary pressures. Wall Street might get more feedback from policymakers this afternoon as a number of Fed officials are slated to speak.
Fed Vice Chairman Donald Kohn plans to testify before the House Financial Services Committee. Minneapolis Fed President Gary Stern is expected to speak at an investment forum at the University of Dayton in Ohio.
After the closing bell, Richmond Fed President Jeffrey Lacker is scheduled to speak before economists in Richmond on inflation and unemployment. His speech comes after a report showed the number of newly laid-off workers signing up for unemployment benefits last week declined, suggesting the job market is still in good shape even as the economy goes through a sluggish spell.
Dow is up 48 points last night! Yay!
Crude Oil is surging >>
Okie, iPunter, perhaps 3-y chart be better...
DOW Future Green
 |
| Mar 2007 | Change | Level | Last Update? | |
|---|---|---|---|---|
 | ||||
| S&P 500 | +3.20 | 1432.80 | 3/29 7:31am |  |
| Fair Value | 1426.29 | 3/28 7:31pm | ||
| Difference* | +6.51 | |||
| ||||
| NASDAQ | +5.00 | 1795.25 | 3/29 6:55am |  |
| Fair Value | 1788.82 | 3/28 7:31pm | ||
| Difference* | +6.43 | |||
| ||||
| Dow Jones | +41.00 | 12429.00 | 3/29 7:26am | |
Comments by Bernanke last night:
- Concerned with inflation => possible increase in interest rate.
- Concerned with sub prime loans => possible decrease in interest rate.
These two conflicting signals => interest rates will remain stagnant for the time being.
To re-iterate...
Big picture is revealing... but bigger picture is even more revealing...
Big picture is revealing... but bigger picture is even more revealing...
Perhaps there's some hint of the 'dead cat bounce' coming true...
But then, no one can be sure... :)
But then, no one can be sure... :)
bsiong...
It would be good for you to present the 2-Year Dow Chart here...
It is more revealing...
If one just look at the 1-Year chart presented here, one naturally tends to be bullish.
The 1-year chart can be very deceiving, since we don't really see the bigger picture.
Hope you can show it here, too...
It would be good for you to present the 2-Year Dow Chart here...
It is more revealing...
If one just look at the 1-Year chart presented here, one naturally tends to be bullish.
The 1-year chart can be very deceiving, since we don't really see the bigger picture.
Hope you can show it here, too...
Dow fell 97 points last night
the dow seem to be diverging.. good news
See the big picture...
wahhh!!! its heading south. how low can it go?
Dow fell on open... now down over 50 points...
S&P
CrudeOil
Ouch after 2200hrs ....!!!
DOW NASDAQ
Dow down 74 points and Nasdaq down 14 points now ......
But then, on the other side of the coin .... Poor data should boost a higher chance for a rate cut?! So US market may reverse its current course and close just slightly down or FLAT instead. :P
By the way, Big Ben presenting to congress tomorrow.
Dow down 58 points and Nasdaq down 12 points now ...... Going to be BLOODY nite this!!!
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Consumer confidence falls for 1st time in 5 months
By Rex Nutting
Last Update: 10:00 AM ET Mar 27, 2007
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