drink.. what a ride.
A share trader checks share prices as she sits behind her trading terminals
at the trading floor of the German stock exchange in Frankfurt,
October 20, 2008. (Kai Pfaffenbach/Reuters)
Posted on 10/20/2008 1:20:35 PM PDT by NormsRevenge
NEW YORK (Reuters) – Stocks rose on Monday as investors welcomed signs that credit strains were easing and comments from Federal Reserve Chairman Ben Bernanke raised hopes for more spending to help the U.S. economy.
With stocks at 5-year lows, thawing credit markets inspired investors to scour for bargains among beaten-down shares. Energy, utilities and materials companies led the way higher.
Shares of oil field services companies Halliburton Co and Weatherford International Ltd jumped after they posted better-than-expected quarterly earnings.
The energy sector also got a boost as the price of oil rose and analysts at Oppenheimer & Co raised recommendations on energy stocks such as Chevron and Exxon Mobil. Both Chevron and Exxon climbed more than 6 percent.
"We've seen some improvement in some credit metrics and Bernanke talking about a potential economic stimulus is beneficial," said Bucky Hellwig, senior vice president at Morgan Asset Management in Birmingham, Alabama.
"Energy stocks are also helping the market's advance here."
(Excerpt) Read more at news.yahoo.com ...
pssssst.. buy ‘old’ energy , not renewable
keep your seatbelts slightly snugged anyway
We still got a few more bumps ahead
drink.. what a ride.
A share trader checks share prices as she sits behind her trading terminals
at the trading floor of the German stock exchange in Frankfurt,
October 20, 2008. (Kai Pfaffenbach/Reuters)
Yep what this really country needs to recover is more and more credit opportunities for investors. Maybe they could come up with some new credit scams on consumers by making credit even easier for them. Maybe collateralize credit cards this time.
Hey s-heads what consumers need is more jobs and rising incomes so they can pay off credit not get mired in more.
It's jobs stupid. MAKE HERE MAKE NOW.
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