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So what explains today's big rally, with the Dow now up ~200? Apple is rebounding, but its fall...
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Tuesday, April 17, 2012, 2:20 PM ETSo what explains today's big rally, with the Dow now up ~200? Apple is rebounding, but its fall yesterday didn’t hurt the broader averages much. Banks are cranking up the dividends, but earnings are mostly lower Y/Y. Spain auctioned off short-term debt, but it had to pay through the nose. Maybe it's technical, as the S&P moved above its 50-day MA, or maybe it's history: stocks typically rally after Tax Day.
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http://bloom.bg/IjIU6C
"Production at U.S. factories dropped in March for the first time in four months as the industry cooled following the strongest surge in three decades.
Manufacturing, which makes up about 75 percent of industrial output, decreased 0.2 percent last month as appliance and furniture makers cut back, data from the Federal Reserve showed today in Washington. The decline followed a revised 3.4 percent gain from December through February that marked the biggest three-month jump since March 1984."
I read the story. A good link. Where does it say the 10.4% figure you are quoting?
I can't find it in there. The first sentence in the quote is interesting because why didn't it keep going up?
The recent slowdown probably reflects the end of the 100% expensing tax credit that ended in December. Demand was pulled forward and restocking was done in Q1. The current demand seems to have gone down from that peak based upon the last month's numbers and the recent durable good's orders.
We'll see if there is a rebound in April but most of the recent numbers are showing trend growth slowing but I agree a recession seems very remote at this time.
look at treasuries