Jamesb101.com

commentary on Politics and a little bit of everything else

US Stocks recover as Germany signs on to the EU/IMF Bailout……

[nyse0521]

Maybe they can breathe again down there down at Wall Street and buy instead of yesterdays dumping of Stocks….


U.S. stocks pulled out of their recent slump, notching modest gains as big banks rallied and investors pushed aside for the moment doubts about Europe’s finances.

The market’s gains follow three days of declines capped by a late plunge on Thursday. The euro strengthened against the dollar, helping commodities firm after a week of drops.

A flight from risky assets that accelerated Thursday was gradually slowing. The three-day drop in stocks, some investors said, helped restore levels to where they more accurately reflect the potential for global growth to slacken if European austerity measures cut into demand.

Before the major stock indexes entered a technical correction this week, the market had overblown expectations of growth, said Dan Alpert, managing partner at Westwood Capital.

“When you have a market with that much froth in it, it doesn’t matter what the catalyst is if the situation on Main Street doesn’t match the view on Wall Street,” he said. More normalized prices are now enticing investors, he said.

The Dow Jones Industrial Average rose 83 points, or 0.8%, to 10151 in recent trading…..

More……..

Germany’s Parliament votes to throw some money into the pot to rescue the EU and the IMF…..

Germany’s Parliament on Friday approved the country’s contribution of up to €147.6 billion ($184.7 billion) to a massive €750 billion bailout from European Union countries and the International Monetary Fund for euro-zone states on the verge of a default.

The Upper House of Parliament signed off on the bill after the Lower House approved it earlier Friday in a heated debate, with criticism from opposition parties. Some lawmakers of Chancellor Angela Merkel’s center-right parties didn’t back the measures. The bill was approved by 319 of the 587 votes cast in the Lower House, while 195 abstained and 73 voted against …

More……..

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May 21, 2010 - Posted by | Blogs, Breaking News, Government, Media, PoliticalDog Calls, Politics, The Economy, Updates | , , ,

1 Comment »

  1. Lemmings.

    Comment by Manila Calling! | May 21, 2010 | Reply


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