Markets Surge With MONSTER Wire-To-Wire Rally: Here's What You Need To Know

The Business Insider ^ | 6-10-2010 | Joe Weisenthal

[blam]

Markets Surge With MONSTER Wire-To-Wire Rally: Here's What You Need To Know

Joe Weisenthal
Jun. 10, 2010, 3:59 PM

Finally! The bulls didn't blow it. Stocks started hot, and ended even hotter.

First, the scoreboard:

Dow: +275
S&P 500: +31
NASDAQ: +60

And now, the key stories of the day.

* At least for one day, all the key "risk on" signs were flashing. It wasn't just stocks, but also the aussie dollar, the euro, and the decline of gold.

* BP staged a major turnaround after yesterday's bloodbath. There's still nothing good on the ground, but for now all the fears about immediate bankruptcy seems to have passed. Don't miss: 15 major companies zooming towards bankruptcy >

* Shares of Goldman failed to take part in the rally following revelations that the SEC is looking into brand new CDOs beyond ABACUS. See the 20 winners and losers from the Goldman scandal >

* The economic news of the day was mixed. Weekly jobless claims were predictably mediocre. On the other hand, China confirmed that its exports are growing, once again, at a very rapid clip.

[snip]

[what's up]

Public info is news.

And that's to a large extent what the market trades on.

BP, crude price, dollar index...the items you cited...all news.

[blam]

Chinese Export Rumors Were True

[Thurston_Howell_III]

My take is that info made public and reported in some media somewhere having been distilled is “news” - info taken right from the source of origin is simply information. A press release is not “news” but only information until its picked up and reported on. But I think we’re splitting hairs at this point.