US stock market up following good showing by housing


    US stock markets have gone up following the good showing by the housing markets. Meanwhile the good showing by tech companies has propelled the S&P 500 Index to its best level in more than six months.

    Jerry Yang’s decision to step down from his post in the internet giant Yahoo has been greeted by the market with enthusiasm as Yahoo stocks went up by as much as two percent. But the best performing so far has been Goldman Sachs Group Inc. that has gone up by more than five percent following unexpectedly high profit margins.

    Earlier the beginning today was not as good as it seems right now. The stock market seemed going down when Bank of New York Mellon Corp. and PNC Financial Services Group Inc’s share went down due to low returns and missing the targets.

    Meanwhile the stocks market seems to be improving following the initial downward trend. Dow Jones Industrial Average that opened at 12,474.69 went up as much as .32 percent and at the time of filing this report was at 12,552.6 points.

    S&P 500 Index that opened at 1293.65 went up by close to .50 percent. At the time of filing this report S&P 500 Index was 1299.77. though at one time it was still higher at 1,302.49. meanwhile the best performing was Nasdaq that went up by as much as .76 percent after opening at 2731.16. at the time of filing this report Nasdaq was at 2,748.78 points.

    A well known investment banker Peter Jankovskis says, “Earnings momentum is slowing somewhat, but we’re still seeing growth…That’s something that investors should be encouraged by. The economic data points continue to be upbeat. We’re in a mode for decent growth.”

    Maris Ogg, another leading expert on investment trend says, “Knowing how unsettled Europe is, our feeling is we don’t know if the worst is over, though it certainly feels that way…The open question we have is, can the U.S. market and earnings continue to move up in the face of a weakening Europe, and that’s one we don’t really know the answer to. We still feel like there’s a lot of cloudiness ahead.”