Posted on 04/03/2006 8:55:24 AM PDT by Signalman
NEW YORK (CNNMoney.com) - Stocks jumped Monday morning as investors flooded into the market at the start of a new quarter, despite surging bond yields and a jump in crude oil prices.
The Dow Jones industrial average (up 115.66 to 11,224.98, Charts) climbed more than 1 percent about 90 minutes into the first session. The broader Standard & Poor's 500 (up 11.65 to 1,306.48, Charts) index added nearly 1 percent and the Nasdaq composite (up 15.64 to 2,355.43, Charts) gained 0.7 percent. INVESTOR RESEARCH CENTER Special Reportfull coverage Oil Crunch Oil closes at highest in nearly 2 months Poll: Americans at 'tipping point' about energy Big-SUV fuel standards add cost, save fuel Gas prices driven up by ethanol?
Stocks slipped Friday but the market still wrapped up its best first-quarter performance in years. The S&P 500 posted its biggest first-quarter gain since 1999.
The positive momentum continued Monday in the first trading session of the second quarter. The start of a new quarter tends to be positive, with investors putting money to work in 401(k) retirement plans, mutual funds and other investment vehicles.
In addition, investors took in the morning's corporate and economic news.
General Motors struck a long-awaited deal to sell a majority stake in its finance arm to a group of investors led by Cerberus Capital Management. The deal will being the troubled automaker up to $14 billion over time and could help it prop up its finances.
(Excerpt) Read more at money.cnn.com ...
Tommy Daschle would be deeply saddened, if he weren't completely forgotten.
Blue Chips Surging because Manufacturing has slowed down to snail's pace.
Therefore the hope is that Feds would stop rising the rates.
Bad news is the good news today!
However, once Ben Barnake (MF) opens his mouth, and praises the economy tomorrow or day after, indicating they won't stop hiking rates, you would see major one day collapse.
I've been seriously selling today.........
I agree with you.
Do you think there is any possibility of forming a stock discussion group for FREEPERS only? Say, an email list or a PING list?
I don't think its panic buying, but I do think the market is getting overbought and will be pulling back on major profit taking within the week.
Have to disagree with both of you guys. I look for the DJIA to hit 14,000 by mid to late Summer IF crude oil and other commodities don't keep rising drastically.
Don't have a stong opinion concerning the DOW and S&P but the charts indicate that the NASDAQ broke out last week. DOW and S&P following. I think we have a good April.
Historically, April has been a good month for the DJIA, with an average rise of 1.8% since 1950.
I belong to a very small group first formed from communicating on the aol stock message boards.
We are entered in the CNBC contest which starts tomorrow.
Today is the last day to enroll....
It's free and the top prize is a Maserati Gran Sport.....all taxes paid.
Give it a try.......
http://www.sbfantasyportfolio.com/index.asp#Home.asp
"Worst economy since the Depression" Ping
Mexicans are making money by the buckets!!
" IF crude oil and other commodities don't keep rising drastically."
Ok, if the above is true, I'll agree with you, but what are the odds on that?
On the other hand, I guess it is the unexpected that actually happens!
The trading day of every month is pre-programmed to buy from investors purchasing mutual funds and drips....
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