Wall Street moves higher; markets await new stimulus in China [World picks ChiComs over Obama]

www.iht.com ^

[NoLibZone]

Stocks rose around the world on Wednesday, as investors reacted to speculation that China may expand its stimulus measures.

Shares increased on reports that Premier Wen Jiabao of China was considering new stimulus measures on top of the $585 billion spending plan already proposed. An announcement could come as early as Thursday in China.

In early trading, the Dow Jones industrial average was 108 points or 1.6 percent higher, while the Standard & Poor's 500-stock index rose almost 1.8 percent, climbing above 700. The Nasdaq rose 2 percent. On Tuesday, the Standard & Poor's 500 index fell 0.6 percent, taking its 2009 loss to 23 percent.In afternoon trading, the DJ Euro Stoxx 50 index, a barometer of euro zone blue chips, rose 2.5 percent, while the FTSE 100 index in London rose 2.6 percent. The CAC 40 in Paris was up 2.6 percent and the DAX in Frankfurt 3.1 percent.

Most Asian markets were higher, breaking a three-day losing streak. The Tokyo benchmark Nikkei 225 stock average rose 0.9 percent, while the Hang Seng index in Hong Kong rose 2.5 percent, and the Shanghai Stock Exchange composite index gained 6.1 percent.

[domenad]

Great. Everything is up except my miserable GE stock, which I bought at the “bargain” price of $13.

[untenured]

Shares increased on reports that Premier Wen Jiabao of China was considering new stimulus measures on top of the $585 billion spending plan already proposed. An announcement could come as early as Thursday in China.

So the previous stimulus seems not to have worked then?

Wasn't it Keynes himself who said that when the evidence changed he changed his view, what about you?

[Domandred]

It’s going up at a pretty good clip today to. Please tell me that people didn’t listen to Obama saying “buy buy buy”. It was a trap for people to put money back in so Obama can crash it again causing them to lose even more.

[MNlurker]

We’re running out of dead cats to bounce...

[fightinbluhen51]

And I read yesterday that the national savings plan of hoping your house goes up in value, well, they still have approximately another 20% to go down.

Historically speaking, median housing prices nation wide should be 150k, they are still @ 180k.

[Unassuaged]

I wanted to shout at O yesterday:

“So, are you saying that the fundamentals of the economy are strong?!?!”

[concerned about politics]

Due to overwhelming public interest, Coin World is providing free access to stories and images about highly deceptive counterfeits of U.S. coins and other world coins that are flowing into the collectibles marketplace via eBay auctions and Internet sales.

[dawn53]

Don’t worry, the CEO said they don’t need extra capitol...uh, just like he said the dividend was no problem.
Why he even bothers to open his mouth is beyond me. He has no credibility left.

[concerned about politics]

If the economy does start to rebound, keep an eye on that Korean missile. It'll have to hit the U.S. in order to create another major crises. Oboma and his friends haven't completed what they want to do yet. They're not done.

[dead]

At least China proudly admits they’re communists.

[ninonitti]

Should push prices down for a while.........until folks realize what Bernanke is doing to the paper money.

[b4its2late]

Politically they are really close.

[austingirl]

I can’t believe that the market is still up while the untaxable Geithner is testifying. This morning I nearly smahed the TV when Dagen McDowell shrieked on Fox Business News regarding the housing bailout “stop worrying about what (these liars and deadbeats)deserve..” sounds suspiciously like from each according to his ability to each according to his needs.

[Mr Rogers]

The big money folks are completely clueless themselves. They think it is a GOOD THING if China stops loaning us money and starts wasteful spending inside China?

Who is Obama going to get money from? And where will the Chinese then sell their goods?

The markets have dropped so much in the last couple of weeks that it was inevitable that dolts would be looking for ‘bargains’. I didn’t sell my mutual funds a couple of weeks ago because it would be smart over a day or a month. I did so because I see nothing hopeful about our economy over the next 4-8 years.

[Retired Greyhound]

China is looking really good right now.

[Centurion2000]

Please tell me that people didn’t listen to Obama saying “buy buy buy”. It was a trap for people to put money back in so Obama can crash it again causing them to lose even more.

Yes, 50% of the people in this country trust this guy. Boy are they in for some shock and awwww.

[Mr Rogers]

I just copied these stories from Yahoo Finance. What would make anyone think the day’s stories support higher prices?

---

Stocks Move Higher After 5 Days of Heavy Selling- AP

Investors cautiously returned to the stock market Wednesday, sifting for bargains after five straight days of heavy selling...

* White House kicks off housing plan to help 9 million- AP
* Source: Obama to order govt contracting overhaul to save $40B- AP
* Services sector shrank in Feb., 5th straight month- AP
* U.S. private sector cuts 697,000 jobs in February- Reuters
* Oil rises to $44 as investors eye inventories- AP
* Supreme Court rejects limits on drug lawsuits- AP
* One in five U.S. mortgage borrowers is underwater- Reuters
* US Bancorp cuts dividend 88 percent- AP
* GE’s Still Not Cheap- Tech Ticker

---

There is a reason most mutual fund managers can’t match the performance of an index fund.

[longtermmemmory]

that is because the rumor is the AAA rating is going by by.

This caused GE to issue a denial of problems but can you really trust a corporation that pushed for obama via MSNBC and NBC and its entertainment outlets THEN GOES IN FOR government stimulus contracts THEN also admits that it did business with IRAN during the height of tensions.

GE speaks with forked tounge to borrow from the old westerns.

[FreepShop1]

Since China is now the new leader of free market capitalism, it makes sense that it should drive market news.