Friday, March 1, 2013

Sequestration-mageddon! Stocks rise on 1st day of Sequestration

Sequestration-mageddon!  Stocks rise on 1st day of Sequestration.  All 3 of the major indices rose today on the first day of Sequestration.  US Markets were up for the day and for the week and the Dow is less than 1% from an All-Time High.  In fact the Dow closed at the 3rd Highest Level Ever!

Blue-chip stocks rose to within 75 points of their closing high, as upbeat domestic factory data outweighed a stalemate in U.S. budget talks.
The Dow Jones Industrial Average added 35.17 points, or 0.3%, to 14089.66, reversing a morning loss of more than 100 points to notch its third-highest close of all time.
The Standard & Poor's 500-stock index gained 3.52 points, or 0.2%, to 1518.20. The Nasdaq Composite Index advanced 9.55 points, or 0.3%, to 3169.74.
"This continues to be a market that looks attractive," said Sandy Lincoln, chief market strategist at BMO Global Asset Management, which oversees $120 billion. "When people see any sort of correction, they seem to be anticipating a bounce and taking the opportunity to get in."
Read more about it here.

1 comment:

Anonymous said...

got a love it, l% from its all time high. I remember way, way, way back when it fot over l,000 for the very lst time. People went to their stock brokers by the l00s to wait and watch for that event

annon xoxoxoetc