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Thread: S&P 500 into positive territory for the year

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    S&P 500 into positive territory for the year

    High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. FT.com / Markets / US - S&P 500 into positive territory for the year

    Bank stocks led a relief rally on Wall Street, as US investors cheered Europe’s deal on sovereign debt and strong US growth data.
    Financial stocks in the S&P 500 surged 5.1 per cent, led by big commercial banks Citigroup, up 8.9 per cent to $33.90, JPMorgan Chase, up 8.3 per cent to $37, and Bank of America, up 7 per cent to $7.05. Investment bank Morgan Stanley also jumped 11.5 per cent to $18.50.



    US banks were following their European counterparts up after Europe’s debt deal, which will impose 50 per cent losses on Greek bondholders, but set recapitalisation targets, and raised the firepower of the eurozone rescue fund, at least gave investors more information.
    But the European deal did nothing to help MF Global, the broker-dealer which has been fighting for its life amid fears of heavy exposure to European debt. Shares fell by another 5.9 per cent to $1.60 on Thursday morning, the stock now down more than 50 per cent for the week.
    US economic growth accelerated to an annualised 2.5 per cent in the third quarter, a strong improvement on the 1.3 per cent annualised growth posted in the second quarter, and a suggestion that the summer’s stock market woes were not immediately transmitted to the real economy.

    FT.com / Markets / US - S&P 500 into positive territory for the year

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    Re: S&P 500 into positive territory for the year

    Nice to see this, but with the volatility we've been seeing it could go 100% (or more) in the other direction tomorrow.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: S&P 500 into positive territory for the year

    Quote Originally Posted by AdamT View Post
    Nice to see this, but with the volatility we've been seeing it could go 100% (or more) in the other direction tomorrow.
    If the companies you're invested in are strong, it's just a good opportunity to buy.
    Market volatility is a non issue, when you're buying long term.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
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    Re: S&P 500 into positive territory for the year

    The markets are already reacting to Obama's defeat next year.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: S&P 500 into positive territory for the year

    There's no such thing as high quality global journalism, not when freedom of the press is controlled by a select few corporations who determine what people do and don't see.

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    Re: S&P 500 into positive territory for the year

    Yep, now is the time to buy buy buy, if you can afford it.


    Hell, I bought my house. Set me back 140K, but just 4 years ago, the previous owner paid 270K for it.

    I'll take THAT to the bank laughing the entire way there.
    Quote Originally Posted by calamity View Post
    Reports indicate that everyone knew he was hauling a bunch of guns up there. But, since you brought it up, there's something which should be illegal: guns that breakdown.

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    Re: S&P 500 into positive territory for the year

    Quote Originally Posted by KevinKohler View Post
    Yep, now is the time to buy buy buy, if you can afford it.


    Hell, I bought my house. Set me back 140K, but just 4 years ago, the previous owner paid 270K for it.

    I'll take THAT to the bank laughing the entire way there.
    Just got my house too.
    Got a wicked deal on it + an ultra low interest rate.

    Picked up for just about half of what the original owners paid.
    I was discovering that life just simply isn't fair and bask in the unsung glory of knowing that each obstacle overcome along the way only adds to the satisfaction in the end. Nothing great, after all, was ever accomplished by anyone sulking in his or her misery.
    —Adam Shepard

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