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Whats Making the Stock Market Soar Today?

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Anonymous Coward
User ID: 489136
8/28/2008 10:47 AM
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Whats Making the Stock Market Soar Today?	Quote
The DOW is soaring up last at 126 what going on?

Anonymous Coward
User ID: 276543
8/28/2008 10:49 AM

Re: Whats Making the Stock Market Soar Today?	Quote
Everybodys out of town .. All on low volume. Should be slightly up to down by end of day. Last 3 days trading volume was VERY LOW. Alot of short covering before 3 day weekend.

Indian Elder
User ID: 492623
8/28/2008 10:50 AM

Re: Whats Making the Stock Market Soar Today?	Quote
People betting on Romney being VP

Anonymous Coward
User ID: 272356
8/28/2008 11:02 AM

Re: Whats Making the Stock Market Soar Today?	Quote
People betting on Romney being VP Quoting: Indian Elder 492623 yep

Saxon (777) Subscriber

Faithful and True
User ID: 315937
8/28/2008 11:04 AM

Re: Whats Making the Stock Market Soar Today?	Quote
The same thing that ALWAYS makes it "soar" these days, busy little central bankers typing in big numbers. Don't you realize that the central bankers have been allowed to directly "buy shares" of common stock? That used to be "illegal", but hey, this is all about "national secruity", right? Ophiuchus - The Great Serpent Wrestler and Tamer

Anonymous Coward
User ID: 475674
8/28/2008 11:09 AM

Re: Whats Making the Stock Market Soar Today?	Quote
war

Anonymous Coward
User ID: 428255
8/28/2008 11:09 AM

Re: Whats Making the Stock Market Soar Today?	Quote
Fucking annoying

Anonymous Coward
User ID: 276543
8/28/2008 11:15 AM

Re: Whats Making the Stock Market Soar Today?

Quote

From what I'm getting--All the beatin down stocks like Freddie-Fannie-Ambac-MBIA-Lehman--Nothing is going to happen about a rescue plan till after elections. So they are propping these mortgage /home stocks with flimsy news. All were at record lows and have come back 5 fold since the bottom. Still volume way low. Right now its just day to day trading. Shorts by now would have thought that some really bad news will hit the wire but the opposite has happened and probably are covering at losses. So between no bad news and the thought of no bailout anytime soon have the bulls on screen again. Just yesterday they said the DOW was down 10 out of the last 11 years the Thursday before Labor Day. So its a perfect opportunity for shorts to cover seeing that stocks that went up all week are not going down today. MOstly financials.

OneAngryMom Subscriber

User ID: 300939
8/28/2008 11:18 AM

Re: Whats Making the Stock Market Soar Today?	Quote
FUTURES! We've got THREE HURRICANES stacking up!

Anonymous Coward
User ID: 491394
8/28/2008 11:18 AM

Re: Whats Making the Stock Market Soar Today?	Quote
manipulation. or maybe they are eyeing russias resources and thinking soon the usa may possess them.

Anonymous Coward
User ID: 276543
8/28/2008 11:21 AM

Re: Whats Making the Stock Market Soar Today?	Quote
FUTURES! We've got THREE HURRICANES stacking up! Quoting: OneAngryMom Actually the rise is in the financials--the call now is that there is plenty of oil but the refining in and around LA/TX will be affected. So oil will stay slightly stable but gas-heating oil-nat gas are going up seeing that refiners may be down.

Anonymous Coward
User ID: 489136 (OP)
8/28/2008 11:22 AM

Re: Whats Making the Stock Market Soar Today?	Quote
That is right every time a hurricane comes Wall Street soars on the doom coming. Wall Street loves bad news.

Anonymous Coward
User ID: 473807
8/28/2008 11:24 AM

Re: Whats Making the Stock Market Soar Today?

Quote

This news is:

Growth revised much higher in second quarter
U.S. GDP revised up to 3.3%, could be strongest for some time
By Greg Robb, MarketWatch

Last update: 8:31 a.m. EDT Aug. 28, 2008WASHINGTON (MarketWatch) -- U.S. economic growth in the second quarter was a whole lot stronger than previously believed, but may represent the high-water mark for the economy for at least the next year.

The U.S. economy grew at a 3.3% real annual pace in the April-June quarter, the fastest pace in since the third quarter of last year, the Commerce Department reported Thursday. This was almost double the initial 1.9% estimate reported last month Final sales increased 4.8% annualized, much better than last month's estimate of 3.9%.

Core consumer prices rose at a 2.1% annual pace in the quarter, unrevised from the initial estimate.

Economy-wide inflation jumped 4.2% in the quarter.

The upward revision to gross domestic product was largely due to larger exports and larger inventory accumulation. Economists surveyed by MarketWatch were expecting a revision to 2.7%. The strength in the quarter was powered by stimulus checks from Uncle Sam.

The economy grew 0.9% in the first quarter after slipping 0.2% in the final three months of 2007. Over the past year, the economy has grown 2.2%.
In nominal terms, GDP grew at a 4.6% annual pace to $14.31 trillion annualized.

In general, economists hold the view that the strong growth in the second quarter is not going to be matched or exceeded for the foreseeable future.
Economists expect growth to slip to a 2% rate in the third quarter and forecasts for fourth-quarter growth are downright grim.

The Federal Reserve staff recently cut their forecast for growth over the next year, saying the economy isn't likely to rebound until next summer.
Weak banks, exhausted consumers, and cautious hiring are expected to drag down growth in coming quarters. And with no end in sight for the drop in house prices, economists are unable to see an end to the financial market stress that is holding back activity.

Analysts are nearly unanimous in their prediction of no change in interest rates until next year even though the central bankers will be uncomfortable leaving rates at the current 2% level for too long.
Details
Exports rose 13.2%, revised from an increase of 9.2%. Meanwhile, imports fell 7.6%. The trade deficit added 3.1% to growth.
Real consumer spending increased 1.7% annualized, compared with the earlier 1.5% initial estimate. Spending on durable goods fell 2.5%, spending on nondurable goods rose 4.2% and spending on services increased 1.3%.
Consumer spending contributed 1.2 percentage points to growth.
Investments in houses dropped at a 3.2% annual pace, revised from 3.4% earlier. Residential investments cut 0.6 percentage point from growth, the tenth consecutive quarter that housing has been a drag on growth.
Business fixed investments shrank at a 2.5% annual pace, revised up from 2.4% earlier. Investments in equipment and software fell 3.2%, while investments in structures increased 2.2%. Business investments cut 0.4 percentage points from growth.
Inventories shrank by a revised $49.4 billion, compared with the initial estimate of $62.2 billion. The change in inventory investment cut 1.4 percentage point from growth, down
Greg Robb is a senior reporter for MarketWatch in Washington.

Anonymous Coward
User ID: 276543
8/28/2008 11:28 AM

Re: Whats Making the Stock Market Soar Today?	Quote
The GDP numbers revised up is good for the stock market but in General if you look at the volume numbers they are very low. The dow can go way up on low volume with nobody against the tide. Most brokers are shut down with minimal people working today. All the finacials are up after getting beat down the last few days..GS is up 4$ thats good for 15 on the DOW right there.

anonymous
User ID: 487916
8/28/2008 11:47 AM

Re: Whats Making the Stock Market Soar Today?	Quote
Try not to think in day to day terms... The trend is down.... Everyone's out of town......so their just having some fun....

Anonymous Coward
User ID: 276543
8/28/2008 11:49 AM

Re: Whats Making the Stock Market Soar Today?	Quote
Try not to think in day to day terms... The trend is down.... Everyone's out of town......so their just having some fun.... Quoting: anonymous 487916 Exactamundo !!

Anonymous Coward
User ID: 491957
8/28/2008 12:05 PM

Re: Whats Making the Stock Market Soar Today?	Quote
two hurricanes and pre-WWIII buy up?

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