Posted on 02/24/2014 1:25:25 PM PST by SeekAndFind
U.S. stocks jumped on Monday, with the S&P 500 climbing above key resistance to a record high, as optimism over merger activity helped Wall Street erase this year's early weakness.
Gains were broad, with nine of the 10 S&P 500 sectors up on the day and a number of bellwethers, including Caterpillar Inc and Merck & Co , hitting 52-week highs.
Among merger and acquisition news, RF Micro Devices Inc agreed to buy TriQuint Semiconductor Inc for about $1.6 billion, while Men's Wearhouse Inc raised its cash tender offer for rival men's clothing retailer Jos. A. Bank Clothiers Inc to $63.50 per share from $57.50.
With the day's gains, the S&P 500 turned positive for the year while the Nasdaq hit a 14-year high. More than two-thirds of companies traded on the New York Stock Exchange rose on the day, while 63 percent of Nasdaq-listed companies gained.
The S&P 500 broke above 1,841, which seemed to propel further gains.
(Excerpt) Read more at finance.yahoo.com ...
Pumped up like an overinflated baloon...
Can you say “bubble”?
The managers of these funds have a huge amount of money behind them. Maybe they're trying to make the economy look better than it really is -- at least until after the election.
Are we to believe these companies are worth more than 50% of what they were worth just a few years ago? That’s not true for the ones I’m around.
amazing how many inches you can fit into a foot... when you shrink the inch
With my luck, I’ll jump in and the market will crash. So as to save me and you other FReepers, I’m staying on the sidelines.
RE: Are we to believe these companies are worth more than 50% of what they were worth just a few years ago?
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To get a perspective of how screwed up things are now, consider this — FACEBOOK recently bought a smartphone messaging company named WhatsApp ( which has lots of competitors worldwide ) for $19 Billion !!
just look at several companies that are valued at less than what Facebook is offering for WhatsApp. They are household names: Campbell Soup, Harley-Davidson and ConAgra Foods.
WhatsApp has only 55 employees. Conagra has 26,000 and has a market cap (at $14 Billion) LESS THAN WhatsApp. Campbell Soup has nearly 18,000 employees and has a market cap (also at about $14 Billion ) LESS than WhatsApp.
Does anyone in his right mind even believe that this is value for money?
My thoughts exactly. It is why I have stopped watching the local NFL team, hockey, went fiat out of crypto-coin.
You ALL are welcome!!
The Obama economy is such a wonder. Strange that I just got a call from a young man who is working four part-time jobs but was not able to get enough hours these past few weeks to pay the power bill that followed our recent winter storms. I should have told him about the great stock market so he would feel better sitting in the cold.
There’s a Jos. A. Bank store down the road. I have never, at any time, witnessed more then THREE cars in the parking lot.
Who would want to buy them?
'Bank of America Merrill Lynch has an alternate explanation for today’s stock-market climb back to record highs: hopes of more easy money.'
Just a bigger teetering giant for a more cataclysmic fall.
It's 1999 all over again.
Adjust for inflation................Your numbers may vary..............Past performance is no indication of future actions.........President is an actor portrayal.....................Not intended for use by thinking people...................
OK, that explains me. I went from a 401 investor to a semi-day trader hoping to make some money while keeping most of it in cash accounts. Like the guy falling out the window of a tall building, so far so good.
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