Good News for Investors as the Dow touches a four month High
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It’s all about consumer confidence. The economy of a country like the US is a sole function of how assured the American Taxpayers are that everything is all right. That may be happening, as analysts are betting that the worst of the Economic Crisis is over.
Photo Credit: Petrick2008
The Dow Jones Industrial average added 0.3% and was at it’s highest point since the 3rd of January. Confidence was high as Verizon Communications (VZ, Fortune 500), Procter & Gamble (PG, Fortune 500), Exxon Mobil (XOM, Fortune 500), General Motors (GM, Fortune 500) and Time Warner (TWX, Fortune 500) are slated to deliver their quarterly results in the coming week.
Also, there will be economic reports on manufacturing and construction, first - quarter GDP growth, and consumer confidence.
During the early part of Friday’s sesssion, the technology stocks had reacted negatively to Microsoft’s reports. After falling for a large part of the session, the stocks rose by afternoon with the financial and retailers sector leading the recovery.
Predictable because of this, the Treasury bond prices went down, since Bond prices and stock prices move in opposite directions. The economy is set to receive even further benefits today as the first 800,000 checks giving tax rebates to the citizens will be released.
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