Posted on 06/03/2010 7:18:05 AM PDT by blam
Global Markets Surging On U.S. Economic Hope
Vincent Fernando, CFA
Jun. 3, 2010, 4:32 AM
Asia and Europe have surged on positive economic news from the U.S. yesterday, with major European indices up 1.5% to over 2%.
Japan's Nikkei has lead Asian gains, with the Nikkei 225 up over 3%. The MSCI Asia APEX 50 is up 2.4%. Hong Kong's Hang Seng established nearly 1.5% gains, though mainland China's CSI 300 is down under 1%.
The euro has had a bit of a rally, breaking back above $1.23.
The yen is surging, continuing the post-Hatoyama resignation run.
The U.S. dollar index (DXY) is down slightly, while gold is just below $1,225. Oil is firmer.
Futures are pointing to another decent day for U.S. equities:
[snip]
(Excerpt) Read more at businessinsider.com ...
Not to mention anything new this marxist administration and congress manage to pass between now & then.
On what grounds does anyone feel optimistic for the economy?
Everything is just wonderful, isn’t it?? If you think Obamanomics is working, talk to someone who ISN’T. And it won’t be hard to find them, UNEMPLOYMENT is 10 percent and the BS “job” numbers this morning were anemic.
*raising hand*
Here in East Tennessee.....
Construction of single family housing has resumed. Curtailed large projects are resuming. Empty strip center shops are being renovated by new businesses. Memorial day gas price rise didn’t happen. Campgrounds were full.Industry is having a hard time booking containers for exports
A degree of what is considered normality is retuning.
Pump and dump.
Suffice it to say thats not the case here in the land of fruits & nuts.
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