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Shocker: Stocks Gain For Third Straight Day

From a bitterly disappointed Associated Press:

A tourist walks past the symbol of prosperity in the financial markets on lower Broadway in New York, Thursday, Jan. 24, 2008.

Stocks rise after Microsoft results

By TIM PARADIS, AP Business Writer

NEW YORK – Stocks rose sharply for a third straight session Friday as investors cheered upbeat profit reports from big names like Microsoft Corp. and were reassured by word of a possible buyout of a trouble bond insurer.

Microsoft’s bright forecast and earnings that outpaced expectations lent strength to a notion emerging in recent days that perhaps Wall Street had been too pessimistic in its reading of the economy…

In the first hour of trading, the Dow Jones industrial average rose 78.69, or 0.64 percent, to 12,475.30.

Broader stock indicators also advanced. The Standard & Poor’s 500 index rose 12.88, or 0.95 percent, to 1,364.95, and the Nasdaq composite index advanced 35.82, or 1.52 percent, to 2,396.74…

The stock market’s early gains come as Federal Reserve Chairman Alan Greenspan said he isn’t certain the U.S. will tip into recession even though the economy might not be growing, according to the Financial Times.

Corporate news appeared to ease some investors’ concerns about the economy…

The Russell 2000 index of smaller companies rose 8.93, or 1.29 percent, to 701.65.

Investors overseas also appeared pleased by the two-day U.S. rally, which sent the Dow up by more than 400 points.

In afternoon trading Britain’s FTSE 100 rose 1.17 percent, Germany’s DAX index rose 2.20 percent, and France’s CAC-40 rose 1.34 percent.

Earlier, Japan’s Nikkei stock average jumped 4.10 percent after falling sharply earlier in the week. Hong Kong’s Hang Seng index likewise surged 6.73 percent by the close.

As we have asked before, “what if they gave a recession and nobody came?”

Of course the Democrats and their lickspittle slaveys in the media will not give up so easily.

For instance, here is a typical headline for a video report from CBS News:

Despite Volatility, Investors Go On Buying Binge

Those fools, going against our watchdog media like that.

Who do they think they are?

This article was posted by Steve on Friday, January 25th, 2008. Comments are currently closed.

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