Markets ride technology surge; S&P hits new high
Source: Omaha World Herald-AP
NEW YORK (AP) Technology companies led the Standard & Poor's 500 index to an all-time closing high Monday.
The stock market has recovered all the ground it lost over the previous two weeks, when worries over slower economic growth, falling commodity prices and disappointing quarterly earnings battered financial markets.
The S&P 500 index rose 11.37 points to close at 1,593.61. The 0.7 percent increase nudged the index above its previous closing high of 1,593.36, reached on April 11.
The market has had a terrific run, said Philip Orlando, chief equity strategist at Federated Investors, noting that the S&P 500 is up 12 percent since the start of 2013. At the beginning of the year, I thought we were going to 1,660 (for the whole year). We're only about 5 percent from that.
FULL story at link.
Read more: http://www.omaha.com/article/20130429/MONEY/704309951/1707#markets-ride-technology-surge-s-amp-p-hits-new-high
aristocles
(594 posts)Three economic bellwethers indicate danger lies ahead:
http://www.zerohedge.com/contributed/2013-04-29/these-three-economic-bellweathers-indicate-danger-lies-ahead
Kolesar
(31,182 posts)aristocles
(594 posts)I check every week. I'm decreasing positions wherever I have profits.
In a few months, after a major correction, I'll buy back into those positions at a lower price.
Kolesar
(31,182 posts)After reading some retirement planning books, I realized that I was way overextended in equities. Now I am at about 40% and still selling equities.
"Stocks for the Long Run" is an unsupportable thesis after those last two market crashes. I still don't think that Wall Street is "back into regulation".
My favorite product is I-bonds: inflation protected US Savings Bonds. I would buy TIPS, but they are badly priced right now. Savers around the world are still coming to the US Treasury to buy the US debt.