NEW YORK: A string of upbeat corporate reports added to positive sentiment on Wall Street Thursday, propelling the main indexes to fresh 2009 highs. As the market resumed its rally, the blue-chip Dow Jones Industrial Average advanced 83.74 points (0.92 per cent) to close at 9,154.46.
The technology-heavy Nasdaq composite climbed 16.54 points (0.84 per cent) to 1,984.30 and the Standard & Poor’s 500 broad-market index increased 11.60 points (1.19 per cent) to 986.75.
The rally gained momentum early in the day but lost some steam toward the close as indexes closed off their highs. Additionally, an analyst upgrade of General Electric buoyed sentiment.
Analysts said the market has been able to maintain momentum even after a rise of some 13 per cent in three weeks and over 40 per cent since March. “It’s the market that just refuses to go down, despite the common expectation of a correction of 10 to 30 per cent coming at any time,” said Bob Dickey at RBC Wealth Managements.
“Sure, the market is overbought on a short-term technical basis, but this condition can last a long time, and it is far from the kind of extreme readings that signal a major top.” -- 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;
music
Create a playlist at MixPod.com
