Wall Street Stages Biggest Rally Since May

[Scurrilous]

<snip>

"For a day, at least, Wall Street got its groove back.

The stock market staged its biggest rally since May on Wednesday, driving the Dow Jones industrial average above 10,000, as investors rushed to buy blue-chip shares near their lowest levels this year. The hope was that coming quarterly earnings reports would show major corporations were weathering these hard economic times better than many had expected.

Many ifs remain. A disappointing showing by any number of companies could easily send the market tumbling anew. So could worrisome developments in Europe, where authorities are in the midst of assessing the financial strength of major banks.

But on Wednesday, the old worries were cast aside. The broad stock market jumped 3.13 percent as investors concluded the recent sell-off was overdone and that the economy might be stronger than many had believed. To some, stocks simply seemed too cheap to resist. Investors who for weeks had sought shelter in the relative safety of United States Treasury securities reversed their trades and headed back into stocks.

Adding to the buoyant mood was news suggesting that retail sales were growing briskly this year, a sign that recession-weary consumers were spending again. Sales probably grew at an average annual rate of 4 percent during the first five months of retailers’ current fiscal year, the sharpest gain since 2006, the International Council of Shopping Centers said."

http://www.nytimes.com/2010/07/08/business/08markets.html?src=mv

[still_one]

1. Whether the market goes up or down they will always give you a reason why it happened

It is all a fraud controlled by quants and high speed computers not based on ANY fundamentals