Published: 2009/06/02
NEW YORK: Wall Street stocks shot higher Monday as a bullish mood on recovery from recession overshadowed a massive bankruptcy filing by General Motors. The Dow Jones Industrial Average vaulted 221.11 points (2.60 per cent) to end at 8,721.44, the highest close for blue chips since early January.
The Nasdaq lifted 54.35 points (3.06 per cent) to 1,828.68, its strongest finish since last October, and the broad Standard & Poor’s 500 index increased 23.73 points (2.58 per cent) to a seven-month high of 942.87. The market shook off the widely expected bankruptcy filing by industrial icon General Motors, extending gains from last week on hopes that the global recession was easing.
“The mood on Wall Street is heavily bullish once again, as investors appear reassured that the worst of the recession is over,” said Joseph Hargett at Schaeffer’s Investment Research. Better-than-expected economic data on US manufacturing and consumer income and spending brightened the mood. Robert Brusca at FAO Economics said the data “suggests strongly that we are progressing toward a fast recovery of the type seen in after the 1973-75 recession and 1981-1982 recession.” -- AFP
About Me
- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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