Raymonlux 2012-07-04 20:11:18
U.S. stocks surged Thursday as a triumvirate of better-than-expected
economic reports brought out the bulls on Wall Street, sending blue
chips to levels not seen in almost 13 months.
Mat Johnson, chief economist at Quantit Economic Group, said growth in
the second half of the year should see a sizeable lift, given the
paring of inventories in the second quarter.
Good news also came in the shape of weekly initial claims, which fell
3,000 to 388,000 in the latest week, remaining below the key 400,000
level that many economists believe to be the threshold between an
improving and deteriorating labor market.
The Chicago Purchasing Managers index rose to 55.9 percent in July, up
from last month’s 52.5 percent and ahead of the 53.7 percent that had
been forecast by economists. Levels above the 50 percent mark signal
factory-sector expansion while readings under 50 suggest contraction.
Upbeat news on the long-struggling factory sector was especially
welcome ahead of Friday’s influential national manufacturing report.
Investors are also awaiting the release of the July jobs report Friday
morning, typically the most market-moving economic indicator.
Poor Democrats. They can go cry in their NAMBLA gay bath house now.
Andy weaks 2012-07-06 01:39:00
wow, DOW up 0.37% and the NASDAQ up 0.82%, yawn. I think most people realize that the
uptick in GDP is from war, not real economics.
Mombu 2012-07-06 09:40:03
Could this be the economic “light at the end of the tunnel” ?
Everybody run outside and start dancing in the street.