commentary on Politics and a little bit of everything else

The Market SOARS back UP!…… on news of a Greek bailout by the EU…….

The American Markets all came roaring back in the last few hours since trading opened this morning on the report that the

European Union will set aside a 750 Billion Euro bailout fund to help stabilize Greece and calm jittery financial markets around the world…..

The will repeat something very evident….

For those of you who ascribe to the let them fail economic policy……GO HOME……

When Big businesses, State’s and Countries get in financial trouble…..


Please remember this…

U.S. blue-chip stocks barreled toward their biggest one-day point gain of the year on Monday as a new nearly $1 trillion bailout package to help stabilize Europe lured investors back into riskier assets.

The Dow Jones Industrial Average climbed 350 points, or 3.4%, to 10732 in early trading, on pace for its biggest one-day gain of the year.

The Standard & Poor’s 500-share index moved back above 1150, rising 3.8% to 1153. The Nasdaq Composite gained 4%.

All but one of the Dow’s 30 components gained. General Electric climbed 6.9% to lead the measure. Boeing rose 5.9% after Goldman Sachs upgraded the stock to a “conviction buy” from “neutral,” writing that Boeing “spans nearly every positive global theme that is driving outperformance in stocks today.”

Cisco Systems leapt 6.3% and Caterpillar gained 6.1%. Only Wal-Mart Stores slipped into the red, edging down 0.5%.

Within the S&P 500, the industrials and financials sectors led the gains, as investors returned to the riskier areas of the market.

The U.S. market’s climb followed strong gains in the Asian and European markets after the European Union agreed to a €750 billion ($954.83 billion) bailout, comprising €440 billion of loans from euro-zone governments, €60 billion from a European Union emergency fund and €250 billion from the International Monetary Fund…….

In further coordinated efforts to assuage spooked markets, the European Central Bank will go into the secondary market to buy euro-zone national bonds—a step last week that its president, Jean-Claude Trichet, said the central bank didn’t even contemplate—and the Federal Reserve, working with other central banks, re-activated swap lines so foreign institutions can get access to loans.

But investors eyed the surging U.S. market with some skepticism.

“I’m alarmed that the world was ending last week and today’s the new beginning,” said John Lynch, chief equities strategist at Wells Fargo Funds Management Group. The European Union’s agreement addresses only some of Europe’s short-term concerns, he said.

“This solves or attempts to solve the funding issues, but it has nothing to do with solvency and reform and cuts,” he said. Mr. Lynch said the S&P’s bounce back would be more sustainable if it remained around the 1150 level it last crossed in mid-March…..


May 10, 2010 - Posted by | Breaking News, Counterpoints, Government, Media, PoliticalDog Calls, Politics, The Economy, Updates | , , , ,

1 Comment »

  1. […] This post was mentioned on Twitter by James Finley. James Finley said: The Market SOARS back UP!…… on news of a Greek bailout by the EU…….: http://wp.me/pAL4p-2LT […]

    Pingback by Tweets that mention The Market SOARS back UP!…… on news of a Greek bailout by the EU……. « PoliticalDog101.com -- Topsy.com | May 10, 2010 | Reply

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