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| Subject: Week 12 the worst week so far 2012 for us most bearish | |
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Author: Monday 19/3 to Sunday 25/3=began to deline Tue 20/3 |
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Date Posted: 10:55:09 03/26/12 Mon U.S. stocks rally after Bernanke commentsStories You Might Like •Sponsored: this site Paul Ryan leaves door open to joining GOP ticket •Sponsored: this site Microsoft leads techs higher in broad rally •Sponsored: DailyFX Buying When We Should Have Been Selling [?]209 Comments Share Digg Yahoo! Buzz MySpace del.icio.us Reddit LinkedIn Fark StumbleUpon Newsvine newPortfolio Relevance LEARN MOREWant to see how this story relates to your portfolio? Just add items to create a portfolio now: XAddDow Jones Industrial Average (DJIA)XAddDAX Performance Index (DAX)Add Create Portfolio or Cancel Already have a portfolio? Log In By Laura Mandaro, MarketWatch SAN FRANCISCO (MarketWatch) — U.S. stocks surged Monday, rebounding from last week’s losses, after a speech by Federal Reserve Chairman Ben Bernanke signaled the central bank is committed to a monetary policy that’s helped buoy stocks for three years. The Dow Jones Industrial Average /quotes/zigman/627449 DJIA +0.98% rose 109 points, or 0.8%, to 13,190. The S&P 500 Index /quotes/zigman/3870025 SPX +1.01% gained 12 points, or 0.9%, to 1,410. The Nasdaq Composite /quotes/zigman/123127 COMP +1.40% added 36 points, or 1.2%, to 3,104. THE FED Reuters Federal Reserve Board Chairman Ben Bernanke addresses the National Association for Business Economics Policy Conference in Alexandria, Virginia March 26, 2012. Bernanke: Not clear if good jobs trends will last Federal Reserve chief points to accommodative monetary policy as helping underpin labor-market improvement, but he says greater economic demand is the best means to ensure jobs don’t deteriorate again. • Fed warned not to keep rates too low for too long • Trichet warns of nations’ ‘behavioral contagion’ • Fed nominees pledge 'no politics' • Federal Reserve 101 with Prof. Bernanke • Central bank earns $77 billion • Economy not out of woods yet: Fed's Dudley • Fed stays put, downplays inflation • Rex Nutting: Fed sees no real changes • Text of FOMC statement • What’s behind Republican attacks on the Fed CALENDARS AND COLUMNS • U.S. economic calendar | Global calendar • Market Snapshot | Bond Report | Currencies • Sign up for breaking-news alerts by email /conga/story/misc/fed.html 199558 Stock gains were widespread. On the Dow, only two of 30 components fell. United Technologies Corp. /quotes/zigman/244482/quotes/nls/utx UTX +2.03% , Exxon Mobil Corp. /quotes/zigman/203975/quotes/nls/xom XOM +1.40% and American Express Co. /quotes/zigman/217470/quotes/nls/axp AXP +1.90% were the biggest point contributors. On the New York Stock Exchange, advancers outpaced decliners by seven to three. NYSE composite volume was 1.5 billion as of 12:27 Eastern. Last week, the S&P 500 and Dow industrials posted their worst weeks of the year. Ahead of the opening bell, Bernanke said it’s not yet certain the recent pace of improvement in the nation’s labor market will be sustained, noting a still-high unemployment rate and the large number of people who have been out of work for more than six months. Further improvements could be supported by “continued accommodative policies,” he said. Read more on Bernanke. “The fact that he’s maintaining loose policy and is open to further easing is providing a lift for stocks,” said Andrew Fitzpatrick, director of investments at Hinsdale Associations in Hinsdale, Ill. “Having the Fed providing support and liquidity has been a key driver in this rally,” he said. Stocks added to broad gains after an index of pending home sales for February dipped from January, disappointing the expectations of some economists for a 1% rise. It was still higher than a year ago. Read more on pending home sales. “The housing market is still in a spot where it’s trying to find a bottom. The [stock] market has already priced that in and it’s looking the other way,” Fitzpatrick said. Spillover effect The Fed’s policy of keeping rates near 0% and taking extraordinary measures to boost the economy, such as buying large amounts of bonds, have been credited, in concert with similar actions by other central banks, in lifting U.S. stocks out of a bear market three years ago. The S&P 500 has more than doubled since then. Bernanke’s speech “reiterated themes that Federal Reserve policy makers have used to justify policy accommodation since last summer,” wrote economists at Nomura Global Economics. “We continue to expect the [Federal Open Market Committee] to implement another round of [quantitative easing] over the summer,” the Nomura economists wrote. Not all analysts agreed that the comments spelled a new program of bond purchases was in store. But Bernanke’s speech was enough to sink the U.S. dollar, whose value is seen eroded by the Fed’s liquidity-boosting programs. The U.S. dollar fell against the euro /quotes/zigman/4867933/sampled EURUSD +0.4596% after the Bernanke comments, also providing a lift to export sensitive stocks like industrials. The dollar index /quotes/zigman/1652083 DXY -0.35% dropped to 79.034 from 79.344 late Friday in North America. Read more on currencies. Crude-oil futures for May delivery /quotes/zigman/2203141 CLK2 -0.07% gained 5 cents to $106.95 a barrel. Read more on oil futures. Gold for April delivery /quotes/zigman/660065 GCJ2 +1.36% rose $23.30, or 1.4%, to $1,686.10 an ounce. Read more on metals stocks. /quotes/zigman/627449 Add to portfolio DJIA Dow Jones Industrial Average 13,208.48 +127.75 +0.98% Volume: 58.75MMarch 26, 2012 1:49p /quotes/zigman/3870025 Add to portfolio SPX S&P 500 Index 1,411.27 +14.16 +1.01% Volume: 261.05MMarch 26, 2012 1:49p /quotes/zigman/123127 Add to portfolio COMP NASDAQ Composite Index 3,110.89 +42.97 +1.40% Volume: 0.00March 26, 2012 1:49p /quotes/zigman/244482/quotes/nls/utx Add to portfolio UTX United Technologies Corp. $ 83.46 +1.66 +2.03% Volume: 2.02MMarch 26, 2012 1:49p /quotes/zigman/203975/quotes/nls/xom Add to portfolio XOM Exxon Mobil Corp. $ 86.75 +1.20 +1.40% Volume: 9.78MMarch 26, 2012 1:49p /quotes/zigman/217470/quotes/nls/axp Add to portfolio AXP American Express Co. $ 58.34 +1.09 +1.90% Volume: 2.35MMarch 26, 2012 1:49p /quotes/zigman/4867933/sampled Add to portfolio EURUSD USD/EUR 1.3333 +0.0061 +0.4596% Volume: 0.0000March 26, 2012 1:49p /quotes/zigman/1652083 Add to portfolio DXY U.S. Dollar Index (DXY) 79.04 -0.28 -0.35% Volume: 0.00March 26, 2012 1:39p /quotes/zigman/2203141 Add to portfolio CLK2 Crude Oil - Electronic (NYMEX) May 2012 $ 106.80 -0.07 -0.07% Volume: 120,468March 26, 2012 1:39p /quotes/zigman/660065 Add to portfolio GCJ2 Gold - Electronic (COMEX) Apr 2012 $ 1,685.00 +22.60 +1.36% Volume: 165,209March 26, 2012 1:39p Laura Mandaro is a MarketWatch editor, based in San Francisco. 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| Subject | Author | Date |
| There have been two declines where Qan took 4 days (NT) | to make a low Tue 6/3 and Tue 20/3==US to Oz | 10:59:18 03/26/12 Mon |
| All of 2012 has been nothing like 2009 to 2011=Only one day of huge (NT) | volatility triple digit crash Tuesday 6/3/2012 | 11:01:13 03/26/12 Mon |
| Even the retreat of Tuesday 6/3/2012 was more "headlines" (NT) | than substance==2012 totally different to 2009 to 2011 | 11:03:07 03/26/12 Mon |