Durable bounce ?? (Zacks)
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Durable bounce ?? (Zacks)
(o comment do Zacks de hoje)
The Durable Goods report stunk. So why did stocks go up on Wednesday?
* People know it's volatile and willing to overlook the news. In fact, 7 out of the last 12 months have been in negative territory and yet clearly the durables group healthy overall.
* Technical bounce from oversold position.
* Because weak economic reports mean that the Fed and Government will keep pumping in stimulus.
We won't know the answer til we get further away from this event. In the meantime, we have more potent economic news on the way Thursday including the first revision of Q1 GDP. It is expected to ratchet up from +1.8% to +2.1%. Getting above 2% would help settle some investor's nerves. Next we get the weekly Jobless Claims with expectations of 404,000. A sub 400K showing would also have positive benefits. Certainly these reports will affect the next move for the market.
The Durable Goods report stunk. So why did stocks go up on Wednesday?
* People know it's volatile and willing to overlook the news. In fact, 7 out of the last 12 months have been in negative territory and yet clearly the durables group healthy overall.
* Technical bounce from oversold position.
* Because weak economic reports mean that the Fed and Government will keep pumping in stimulus.
We won't know the answer til we get further away from this event. In the meantime, we have more potent economic news on the way Thursday including the first revision of Q1 GDP. It is expected to ratchet up from +1.8% to +2.1%. Getting above 2% would help settle some investor's nerves. Next we get the weekly Jobless Claims with expectations of 404,000. A sub 400K showing would also have positive benefits. Certainly these reports will affect the next move for the market.
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... if you feel like doubling up a profitable position, slam your finger in a drawer until the feeling goes away !
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- Registado: 21/10/2003 21:48
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