Posted on 09/27/2010 7:01:28 AM PDT by SeekAndFind
NEW YORK (CNNMoney.com) -- The summer has come to an end, and so has the market slump that came with it. With little on tap to challenge the recent rally, stocks are on track to close September with the biggest monthly gains in over a year.
Though September is typically down month on Wall Street and the economic recovery remains sluggish, investors have taken cues from recent upbeat economic news to propel major indexes sharply higher during the month after a sell-off in August.
We've been seeing modestly favorable economic numbers lately, which has allowed markets to keep moving up," said Stephen Carl, head equity trader at Williams Capital Group.
So far, the Dow has rallied 8.4%, which would be the best monthly gain since July 2009, when the blue-chip index added 8.6%. The latest lift also puts the Dow on track for its best September since 1939, when it rose 13.5%.
The S&P has rallied 9.5%, the largest increase since April 2009, and the Nasdaq has surged 12.6%, the biggest jump since October 2002.
Last week, stocks rose more than 2% after the major indexes broke above key technical levels early in the week. That encouraged investors to keep the momentum going, and stocks ended with a rally to fresh four-month highs.
Though the economy is still not out of the woods, analysts don't foresee a pullback in stocks in the week ahead.
(Excerpt) Read more at money.cnn.com ...
USUSALLY Sept. is a DISASTER!! Just proves that EVERYTHING is upside down!!
The Fed was not buying stocks in 1939.
Soros?
Couldn’t have anything to do with the fact that World War II started in September, 1939?
That's what I had in mind, as well as the crash in '08.
Yeah? Well, I’m “set” to win the lottery too, but I think we’ll both lose.
Zackly.
QE has extended beyond bonds.
Low volume run-up. Wait until the herd returns.
WE'RE ALL GONNA BE RICH!!!
I think people are starting to price in the benefits of having a Republican takeover of the House and possible of the Senate. Those are very good things for the Market.
Hey, exactly my thoughts...
The “crash” in ‘08 was all too convenient and now this “recovery” is suspicious as well.
Rush opined on it late last week...
If the Pubbies get power next year, I will call my congress critter and ask him to look into this...
(No, am not afraid of looking like a paranoid fool....)
According to the sales figures, Apples sales to the government are way up. I don't know if they're buying stock, but somebody in the government is buying a boatload of iThings.
With the elections coming, some serious manipulation is taking place.
Gridlock is good business.
RE: I think people are starting to price in the benefits of having a Republican takeover of the House and possible of the Senate
Heard Larry Kudlow of CNBC say the same thing last Saturday in his Radio talk Show.
But then, the guy is an eternal optimist.
I suspect that in the next 30 days we are going to be hearing all kinds of good news about the economy, jobs, trends, etc. The Obama propaganda machine on hyperdrive with the assistance of the MSM is going to create a Potemkin reality thru November 2. After that, everything will be “surprising” and “unexpected.”
As Joe Kernen on CNBC has said, this is a Tea Party Rally!
With all the billions thrown into the economy by dems (borrowed on credit) you’d think someone would buy something from some company - and they are - for now - just in time for the election.
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