Neil D Posted April 3, 2009 Share Posted April 3, 2009 Another indicator that the economy is going to recover....And more evidence that the doom and gloom from the republican PR machine is again gonna go bust. HONG KONG – World stock markets soared Thursday, with Hong Kong's benchmark vaulting more than 7 percent, as stronger-than-expected U.S. economic figures boosted confidence the world's largest economy is on the mend. Huge gains in Asia and a strong open in Europe followed an overnight surge on Wall Street and extended last month's rebound in world equity markets amid tentative signs of stabilization in the hard-hit global economy and banking industry. It came as Group of 20 leaders met in London for a summit that aims to hammer out policies to combat the economic slump and reform the global financial system. Nearly every sector in Asia charged higher, with carmakers like Toyota Motor Corp. and Nissan Motor Co. rallying on U.S. auto figures that were less dismal than feared. Exporters such as Sony Corp. were lifted by the weakening yen. Investors were encouraged after U.S. car sales jumped by nearly 25 percent last month from February, beating the typical rise and underpinning hopes of a turnaround in the American auto market — critical for Asia's giant auto companies. A rebound in pending U.S. home sales in February from a record low, as well as improving manufacturing activity, added to a growing belief the most severe global downturn in decades may be moving close to a bottom. Still, the upbeat evidence distracted investors from more sobering news the U.S. private sector continued to shed hundreds of thousands of jobs last month — a worrisome sign as investors brace for Friday's report on nationwide job cuts. Meanwhile, there were signs of widening divisions between major nations at the G-20 meeting. With the economic crisis still far from over, analysts warned of more painful market volatility as the recession unfolds. "We're starting to see some initial signs of green shoots. The question is whether or not this is a sound foundation for stability in the economy," said Song Seng Wun, head of research at CIMB-GK in Singapore. "It's still hard to tell." In early European trade, Britain's FTSE 100 jumped 2.9 percent, Germany's DAX gained 3.2 percent and France's CAC was up 3.1 percent. Stock futures pointed to more gains on Wall Street. Dow futures were up 132 points, or 1.7 percent, to 7,850 and S&P 500 futures gained 14.8, or 1.8 percent, to 824. In Asia, Japan's Nikkei 225 stock average jumped 367.87 points, or 4.4 percent, to 8,719.78, while Hong Kong's Hang Seng led the region's gains, soaring 1,002.43 points, or 7.4 percent, to 14,521.97. South Korea's Kospi added 3.5 percent to 1,276.97. Elsewhere, benchmarks in Australia and Taiwan gained about 3 percent. Singapore jumped 5.3 percent and India's Sensex climbed 4.9 percent. Auto companies turned in a strong performance, with Toyota up 5.5 percent and Nissan Motor Co. vaulting 14 percent. Banks roared ahead as well. Mizuho Financial Group, Inc. gained 8.9 percent and Sumitomo Mitsui Financial Group, Inc. rose 7.4 percent. Sentiment got a lift from overnight gains on Wall Street, where investors were stretched out a four-week rally that's taken the market off its lowest levels in 12 years. The Dow rose 152.68, or 2 percent, to 7,761.60, and broader market indicators also rose. The Standard & Poor's 500 index rose 13.21, or 1.7 percent, to 811.08. Oil crept above $49 a barrel in Asia as investors weighed glimmers of hope in the U.S. economy against concerns that global demand remains weak. Benchmark crude for May delivery rose 98 cents to $49.37 a barrel. The contract fell $1.27 on Wednesday to settle at $48.39. In currencies, the dollar rose to 99.25 yen from 98.42 yen, and the euro gained to $1.3261 from $1.3245. Quote Democracy is a device that ensures we shall be governed no better than we deserve. George Bernard Shaw Link to comment Share on other sites More sharing options...
Joe_in_RP Posted April 3, 2009 Share Posted April 3, 2009 Neil I don't know where that news came from. It is not from Detroit. Ford says vehicle sales fell 41% in March. Sales of Ford, Lincoln and Mercury vehicles totaled 125,107 in March. Retail sales fell 36%, while fleet sales fell 50%. The automaker said its retail-market share was the highest since December, 2006, possibly reflecting the success of Ford's effort to distinguish itself from General Motors and Chrysler. Unlike its two peers, Ford has not sought a government bailout. http://www.thestreet.com/story/10480710/1/ford-sales-fell-41-in-march.html?cm_ven=GOOGLEFI Quote Link to comment Share on other sites More sharing options...
Joe_in_RP Posted April 3, 2009 Share Posted April 3, 2009 Fall in German Retail Sales Dents Recovery Hopes Wall Street Journal - ‎Apr 1, 2009‎ Australia Retail Sales Fall Wall Street Journal - ‎Apr 1, 2009‎ Retail sales fell a seasonally adjusted 2% to 18.87 billion Australian dollars (US$13.10 billion) in February from A$19.26 billion in January, ... Hong Kong’s Retail Sales Fall as Companies Cut Jobs Bloomberg - ‎18 hours ago‎ By Nipa Piboontanasawat April 2 (Bloomberg) -- Hong Kong’s retail sales fell for the first time in more than two years as consumer spending weakened in the ... Harry Winston Q4 Sales Down 37% Jewelers Circular Keystone Online - ‎3 hours ago‎ Retail sales for the period fell 21 percent to $67.3 million. US retail sales dropped 50 percent to $18.8 million and Asian retail sales decreased 16 ... Quote Link to comment Share on other sites More sharing options...
Key Guy Posted April 3, 2009 Share Posted April 3, 2009 Neil, With respect... Your conclusions are simply wrong, quite a bit premature, and based on a manipulative press. I wouldn't throw any parties yet. This is going to get much worse before it gets better. Since time will tell, I predict that one of us (or both) will be wrong in our forecasts. Safe bet! Quote Link to comment Share on other sites More sharing options...
Neil D Posted April 3, 2009 Author Share Posted April 3, 2009 Joe Knapp- Your news is old, outdated.... AP business report Keyguy, One of us IS wrong....but since I predicted the US economy begining to recover, all you guys in here pooh-hood that... And when I bring to rememberance the begining of the recovery, you guys don't want to eat the crow that YOU served yourselves. The above link is mmy source, from Yahoo Business news... But hey, all news is liberal controled....right???? [/retorical question] Quote Democracy is a device that ensures we shall be governed no better than we deserve. George Bernard Shaw Link to comment Share on other sites More sharing options...
CyberGuy Posted April 3, 2009 Share Posted April 3, 2009 Neil, With respect... Your conclusions are simply wrong, quite a bit premature, and based on a manipulative press. I wouldn't throw any parties yet. This is going to get much worse before it gets better. Since time will tell, I predict that one of us (or both) will be wrong in our forecasts. Safe bet! Stocks are going up. Housing is starting to sell. Mortgage rates are at an all time low. Yes unemployment will rise high. Employment seems to lag six months behind the stock market rise or lose. I predict in six months unemployment will level off and start to improve. That is my guess. Quote Riverside CA Link to comment Share on other sites More sharing options...
Woody Posted April 3, 2009 Share Posted April 3, 2009 Neil. You can be admired for your Zeal. But you are all full of Hog Wash. This one is almost laughable if it wasn't so sad. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Moderators Jeannieb43 Posted April 3, 2009 Moderators Share Posted April 3, 2009 I think the major market indicators are improving.... all except the unemployment rate. That's where I wish some organization could magically provide jobs for all the people who are out of work. If people can just earn enough to provide food and shelter for their families, I think everybody will be able to hold on till times are good again. Quote Jeannie<br /><br /><br />...Change is inevitable; growth is optional.... Link to comment Share on other sites More sharing options...
Woody Posted April 3, 2009 Share Posted April 3, 2009 Well ... I guess the rich are getting richer and the poor are ... well you know the rest of the story. Quote May we be one so that the world may be won. Christian from the cradle to the grave I believe in Hematology. Link to comment Share on other sites More sharing options...
Moderators lazarus Posted April 3, 2009 Moderators Share Posted April 3, 2009 Originally Posted By: KeyGuy Neil, With respect... Your conclusions are simply wrong, quite a bit premature, and based on a manipulative press. I wouldn't throw any parties yet. This is going to get much worse before it gets better. Since time will tell, I predict that one of us (or both) will be wrong in our forecasts. Safe bet! Stocks are going up. Housing is starting to sell. Mortgage rates are at an all time low. Yes unemployment will rise high. Employment seems to lag six months behind the stock market rise or lose. I predict in six months unemployment will level off and start to improve. That is my guess. Sorry guys but the stock market rise is a BEAR MARKET RALLY. The biggest stock market rise came the day after the 1929 crash!! Ask yourself why are Russia and China pushing for a switch in the reserve currency? If The US loses reserve currency status what does that mean? Russia is also arguing for a return to a gold standard. Why all this talk abut currencies? This crisis is more than the stock market gyrations and unemployment. Quote Great spirits have always found violent opposition from mediocrities. The latter cannot understand it when a man does not thoughtlessly submit to hereditary prejudices but honestly and courageously uses his intelligence. Einstein Link to comment Share on other sites More sharing options...
Key Guy Posted April 3, 2009 Share Posted April 3, 2009 Quote: And when I bring to rememberance the begining of the recovery, you guys don't want to eat the crow that YOU served yourselves. I will gladly eat crow 'cause I don't want this recession. I'll throw an 'eat crow' party! Problem is, I don't know how far into the future we should peg the "I told you so" deadline. BTW: I wouldn't bow to the Saudi king. Why should our president? Quote Link to comment Share on other sites More sharing options...
bonnie Posted April 3, 2009 Share Posted April 3, 2009 Quote: And when I bring to rememberance the begining of the recovery, you guys don't want to eat the crow that YOU served yourselves. I will gladly eat crow 'cause I don't want this recession. I'll throw an 'eat crow' party! Problem is, I don't know how far into the future we should peg the "I told you so" deadline. BTW: I wouldn't bow to the Saudi king. Why should our president? If it has corrected that quickly without the most of the money reaching or be given to the states,how bad could it have been. Under Jimmy Carter it seemed like forever but I know it was a long time. Our worst economy had it's match at that time,higher unemployment rate,interest rates and I don't recall anyone even thinking along the lines of Obama Quote Everything you do is based on the choices you make. It's not your parents, your past relationships, your job, the economy, the weather, an argument, or your age that is to blame. You and only you are responsible for every decision and choice you make, period ... ... Wish more people would realize this. Quotes by Susan Gottesman Link to comment Share on other sites More sharing options...
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