S&P 500 Heads for Best First Quarter Since 1998
Source: Bloomberg
U.S. stocks rose, extending the biggest first-quarter advance since 1998 for the Standard & Poor’s 500 Index, as stronger-than-forecast growth in consumer sentiment and spending bolstered optimism in the economy.
Halliburton Co. (HAL) and Monsanto Co. (MON) advanced at least 1.3 percent to pace gains in commodity producers. Walt Disney Co. (DIS), the largest U.S. entertainment company by market value, climbed 1.4 percent after Lazard Ltd. raised its recommendation for the shares. Apple Inc. (AAPL), which has surged 49 percent in the first three months of 2012, retreated 1.4 percent today.
The S&P 500 gained 0.4 percent to 1,408.08 at 1:29 p.m. New York time. The gauge has rallied 12 percent since the end of 2011, advancing for a second straight quarter. The Dow Jones Industrial Average added 58.27 points, or 0.4 percent, to 13,204.09 today. The Nasdaq Composite Index rose 0.1 percent to 3,099.19 as a 19 percent rally since Dec. 30 put the gauge on track for the biggest first-quarter gain since 1991. (CCMP)
“There’s no reason to avoid equities just because they’ve gone up a lot,” said David Kelly, who helps oversee about $394 billion as chief market strategist at JPMorgan Funds in New York. “People are less fearful of a global financial meltdown emanating from Europe. If you look at valuations and the potential for economic growth, those things tell me the market should have room to move higher over the next few years.”
Read more: http://www.bloomberg.com/news/2012-03-30/u-s-stock-futures-rise-s-p-500-heads-for-weekly-advance.html
More good news.
= new reply since forum marked as read
We can't have this happening.
The market goes up when a Democrat is in the White House and own with a republican is.
