Stocks rose around the world on Wednesday, as investors reacted to speculation that China may expand its stimulus measures.
Shares increased on reports that Premier Wen Jiabao of China was considering new stimulus measures on top of the $585 billion spending plan already proposed. An announcement could come as early as Thursday in China.
In early trading, the Dow Jones industrial average was 108 points or 1.6 percent higher, while the Standard & Poor’s 500-stock index rose almost 1.8 percent, climbing above 700. The Nasdaq rose 2 percent. On Tuesday, the Standard & Poor’s 500 index fell 0.6 percent, taking its 2009 loss to 23 percent.In afternoon trading, the DJ Euro Stoxx 50 index, a barometer of euro zone blue chips, rose 2.5 percent, while the FTSE 100 index in London rose 2.6 percent. The CAC 40 in Paris was up 2.6 percent and the DAX in Frankfurt 3.1 percent.
Most Asian markets were higher, breaking a three-day losing streak. The Tokyo benchmark Nikkei 225 stock average rose 0.9 percent, while the Hang Seng index in Hong Kong rose 2.5 percent, and the Shanghai Stock Exchange composite index gained 6.1 percent.
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I saw that but I don’t know why the markets responded as they did and I’m sure its only temporary.
The jobless numbers are coming out this week and they ain’t gunna be good.