Stocks end the week on a two month high

Discussion in 'Economy' started by Chris, Apr 17, 2009.

  1. Chris
    Offline

    Chris Gold Member

    Joined:
    May 30, 2008
    Messages:
    23,154
    Thanks Received:
    1,958
    Trophy Points:
    205
    Location:
    Virginia
    Ratings:
    +2,089
    NEW YORK (CNNMoney.com) -- Stocks inched higher Friday as better-than-expected earnings from Citigroup, General Electric and Google, helped stretch the recent advance to a sixth straight week.

    The Dow Jones industrial average (INDU) added 6 points or less than 0.1%. The S&P 500 (SPX) index rose 4 points or 0.5%. Both ended at more than two-month highs.

    The Nasdaq composite (COMP) gained 2 points or 0.2%, ending at a more than five-month high.

    CNNMoney.com Market Report - Apr. 17, 2009
     
  2. manu1959
    Offline

    manu1959 Left Coast Isolationist

    Joined:
    Oct 28, 2004
    Messages:
    13,761
    Thanks Received:
    1,625
    Trophy Points:
    48
    Location:
    california
    Ratings:
    +1,626
    from the article...

    Quarterly results: Citigroup (C, Fortune 500) reported a quarterly profit Friday morning, due to strength in its investment banking division. But after paying out preferred dividends, results amounted to a per-share loss of 18 cents. Nonetheless, that was smaller than the 34-cent per share loss analysts expected. Shares of the Dow component fell 9%.

    yea....we lost money but not as much as someone predicited.....
     
  3. Chris
    Offline

    Chris Gold Member

    Joined:
    May 30, 2008
    Messages:
    23,154
    Thanks Received:
    1,958
    Trophy Points:
    205
    Location:
    Virginia
    Ratings:
    +2,089
    Confidence is returning to the system.

    The tide has turned.
     
  4. Toro
    Offline

    Toro Diamond Member

    Joined:
    Sep 29, 2005
    Messages:
    50,786
    Thanks Received:
    11,059
    Trophy Points:
    2,030
    Location:
    The Big Bend via Riderville
    Ratings:
    +25,115
    The rally is getting a little extended, and a pullback would be healthy and probably expected. However, we are near some interesting technical areas, there is a mountain of cash on the sidelines and the hedge funds are sitting in cash and have not caught this move, which means we could break into the 900s soon.

    But I'd expect a pullback.
     
  5. Iriemon
    Offline

    Iriemon VIP Member

    Joined:
    Apr 2, 2009
    Messages:
    2,745
    Thanks Received:
    99
    Trophy Points:
    83
    Location:
    Miami
    Ratings:
    +99
    Many of our conservative friends have said the market shows what investors think of Obama's actions.

    This says they think they're on the right track.
     

Share This Page