Positive Economic News (2nd Ed.): Market Rallies Back
Yee haw! It looks like my first edition of ‘Positive Economic News’ has led a bear market rally this past week and now positive news is starting to become a little trendier. Yes, three straight days of gains in the market, with the Dow bouncing from a low of 6872 back to 7184 today, an increase of 4.5%. Sure, this is nothing to write home about in itself, after 50% + declines, but this kind of rally has been of short supply.
Citi was the impetus of the rally, when announcing that the bank was profitable in the first two months of the year. Any good news from the financial sector has been much needed. And all those looking for a reason to jump back into the market have started to respond.
In other Positive Economic News:
Not such a positive economically, but a positive for our communities and our environments – U.S. public transit ridership in 2008 was at the highest level in 52 years. Most started because of the high gas prices earlier last year, but are now sticking to their newfound habits. Save money, save the environment, meet others in the community, and simplifying your life – I love public transit.
To the Readers:
- Did we bottom on Monday?
- How far will this market rally go?
- If you were out of stocks, are you getting back in now?
- Did you take public transit for the first time consistently in 2008?
Don’t Miss Out on Free 20SomethingFinance Content Updates!
The -economy- hasn’t bottomed, though it’s possible stocks have 3 straight days of gain are always a good thing. I really, really hope the market gets headed back in the right direction and that this is the sign of the end of drops.
Oddly enough, the market usually doesn’t “bottom” till everyone thinks it has bottomed. And I’ve heard a lot of people and authors recently act and claim that the market has bottomed, so it’s looking good. I hope.
As far as other good things happening, retail has actually made quite a rally with February sales being up.
But nothing to bet the farm on, either way.
I don’t live in a city with public transportation, but I did use public transportation numerous times this year when visiting friends in major cities. This was the first time I had ever taken public transportation and I am so excited to be moving to Chicago next year and taking public transportation everywhere once I’m there!
Hopefully the economy will hike again.Lots of my friends loses jobs during the economy recession.
That should be “rallies”, not “rallys”.
Yes, it’s a bear rally. No problem. They have to happen. I won’t place any bets on the overall global economy for the next six months. But I think China and even Canada might start doing better sooner than the consumer-heavy, service-driven U.S. Canada’s markets are on their sixth straight day of gains right now. Public transit in the US is also woefully behind most other developed countries, sad but true.
Leave a comment!
Free Content Updates!
20SomethingFinance Reviews
Recent Posts
Topic Categories
Posts By Month
Disclaimer…
Reader Poll
Blogroll
Recent Comments
Top Commentators in 2010
Twitter Updates...
Posting tweet...