Global economic crisis

[Nimbus]

The US market rally started early this morning in Asia.

"Asian Market Update: Hang Seng Leads the Rebound on Short-Covering and HSBC Gains"

That is the kind of news that the day traders take their signal from.

Its still a bear market until we see a breakout above 7500 (which is the long term trend point)

[cycloneye]

The dow was mostly flat today but closed in the upside (+3.91) for a second day in a row.

DOW=6930.4 - +3.91+0.06%
NASDAQ=1371.64 - +13.36+0.98%
S&P 500=721.36 - +1.76+0.24%

http://www.cnbc.com/id/29638347

[x-y-no]

The dow was mostly flat today but closed in the upside (+3.91) for a second day in a row.

I happened to have CNN tuned in just at the moment it went over 7000. Must have been a bunch of automated sell orders based on that number, because it immediately started dropping fast.

[Stephanie]

Well, I'm glad that I was wrong about a major sell off today. I do hope that this is a sign of better days ahead.

[george_r_1961]

Well, I'm glad that I was wrong about a major sell off today. I do hope that this is a sign of better days ahead.

Every day the dow doesnt dive and actually gains points is a good day.

But im afraid selling will be the rule tommorow or friday resulting in the dow dropping again. We are a longggggggg ways from economic recovery. Im talking years not months.

[Nimbus]

It does look like Dow 7000 is the new ceiling that the day traders will be short selling at. The Nikkei and FTSE were down over night so we will see a negative open to the US markets.

[Squarethecircle]

Today, the Dow blows right by 7000. Hopefully this rally will last - the Dow is already up 1.6 percent.

[vbhoutex]

Today, the Dow blows right by 7000. Hopefully this rally will last - the Dow is already up 1.6 percent.

I wouldn't get too excited yet(even though I would like too!!) I'm pretty sure(=HOPE) we have seen the bottom, but it is not going to be a steady rise, by any means, from here on out. There will be more downs than ups for a few more months and then hopefully things will settle and the return in earnest will start late this year. Not expecting anything meteoric anytime soon though.

[cycloneye]

Here are the midday numbers:Will it close up for a third day in a row up?


DOW=7056.48 +126.08+1.82%
NASDAQ=1394.8 +23.16+1.69%
S&P 500=735.44 +14.08+1.95%



http://www.cnbc.com/id/29654563

The Bulls are running hard again for a third day in a row.



edited dow to read 109 not 1109
vbhoutex

Fixed the + thing
cycloneye

[Squarethecircle]

Near closing, the Dow is currently up 3.2 percent.

[RL3AO]

DJIA up over 200 points.

[cycloneye]

The dow closed up (+239) for a third day in a row and oil closed over 10% higher:

DOW=7170.06 +239.66 +3.46%
NASDAQ=1426.1 +54.46 +3.97%
S&P 500=750.74 +29.38 +4.07%
OIL= +46.84.47 +10.56%


Stocks powered into the market close Thursday, completing a strong rally that took the major indexes up more than 3 percent and nearly 8 percent for the week.

The Dow Jones Industrial Average gained nearly 240 points, or 3.3 percent, led by bank and pharma stocks as well as General Electric. The Standard & Poor's 500 jumped more than 4 percent to 750, while the Nasdaq tech gauge gained 4 percent.

The surge marked the third straight gain for the Dow, after a tiny gain on Wednesday and a nearly 6-percent burst on Wednesday, the best rally in more than three months. Stocks have been getting pounded this year, and this week fulfilled hopes for a bear rally long in coming even as the averages remain 18 percent lower for 2009.

http://www.cnbc.com/id/29654563
http://www.cnbc.com/id/29643092

[Stephanie]

Today, the Dow blows right by 7000. Hopefully this rally will last - the Dow is already up 1.6 percent.

I wouldn't get too excited yet(even though I would like too!!) I'm pretty sure(=HOPE) we have seen the bottom, but it is not going to be a steady rise, by any means, from here on out. There will be more downs than ups for a few more months and then hopefully things will settle and the return in earnest will start late this year. Not expecting anything meteoric anytime soon though.

I SOOOO want to believe that. I agree it will not be a steady rise and the recovery, whenever it officially starts, will take a long time to get us back into a more stable economy. I'm keeping my fingers crossed. I can't stand the tension and stress that this is bringing to everyone.

[cycloneye]

The bulls were wild this week closing up for a 4th day in a row,the last time that occured was in mid November.



DOW=7223.98 +53.92 +0.75%
NASDAQ=1431.5 +5.40 +0.38%
S&P=756.55 +5.81 +0.77%

Stocks went four for four Friday in a dramatic win that delivered stocks their best week since November.

The Dow Jones Industrial Average gained more than 50 points, or 0.8 percent, bringing its four-day total to nearly 700 points, or more than 10 percent.

The S&P 500 gained 0.8 percent and Nasdaq added 0.4 percent.

Everything from better-than-expected retail sales to Bernie Madoff's incarceration were cited for the recent runup but Art Cashin, director of floor operations at UBS, said there's some buzz that it was anticipation of "some adjustment to mark-to-market rules."

Vince Farrell of Scotsman Capital Management flagged this quote from FDIC Chairman Sheila Barr:

"We think it is absolutely true that the assets (meaning the impaired assets on bank balance sheets) are worth more than the current market conditions assigned to them and so that, yes, over time, there will be significant profits from these," FDIC Chairman Shelia Barr said in an interview with American Public Media.

"Ms. Bair's assessment would appear to substantiate the position that Vince and I share with Steve Forbes and lots of others that many, if not most bank assets have been marked down way, way too low. That's the fault of mark to market," Cashin wrote in his morning note to clients.

Of course the question on everyone's mind is: Will the rally last?

"This was the first part of the move. This was the easy part of the move, where shorts get squeezed, bottom feeders come in and it puts the stock market back on the map," Scott Redler, chief strategic officer for T3live.com, said on CNBC this morning. "What we now need to see is some nice price consolidation in these higher levels, make investors and traders think they're missing something and then I think this rally can continue higher over the next few weeks."

In economic news, consumer sentiment improved slightly in March as confidence in the government's economic action plan improved. In January, the trade deficit hit a six-year low as import prices dropped 0.2 percent and export prices unexpectedly slipped 0.1 percent.

http://www.cnbc.com/id/29677653

[Nimbus]

How many here think the Dow will break 7600 by April?

[vbhoutex]

How many here think the Dow will break 7600 by April?

Doubt it seriously!!!

[Stephanie]

I think it'll take longer for it to top 7600 - a few months maybe if the bad news doesn't worsen or begins to lessen.

[MGC]

Dow 7600? Hope not, I along with one of my sons is hopeing more like 5000 then I'll consider getting back in. With the recent news that the Chinese are worried about getting the 1 Trillion they have loaned the US Govt back may have negative ramifications in the short run....MGC

[gtalum]

Dow 7600? Hope not, I along with one of my sons is hopeing more like 5000 then I'll consider getting back in. With the recent news that the Chinese are worried about getting the 1 Trillion they have loaned the US Govt back may have negative ramifications in the short run....MGC

The Chinese haven't loaned $1 trillion to the US. They've bought about $500 Billion in US treasury notes, though. Further, if they had any doubts about repayment they'd stop buying.

[cycloneye]

The Bears woke up today and snapped a five day up streak,although almost closed flat.The Dow was above +100 earlier in the day,but profit taking came in.



DOW=7216.97 -7.01 -0.1%
NASDAQ=1404.02 -27.48 -1.92%
S&P 500=753.89 -2.66 -0.35%

Stocks snapped their winning streak Monday after American Express reported that credit-card deliquencies rose in February.

The Dow Jones Industrial Average and S&P 500 ended just a few points lower. The Nasdaq lost nearly 2 percent as big-name techs were weak throughout the session amid worries about the outlook for tech spending.

http://www.cnbc.com/id/29724677