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Title: US STOCKS-S&P above 1,100 as GE, outlooks boost Wall St
Source:
Reuters
URL Source: http://www.reuters.com/article/idUSN2317042920100723
Published: Jul 23, 2010
Author: Reuters
Post Date: 2010-07-23 17:26:02 by go65
Keywords: None
Views: 352
Comments: 10
NEW YORK, July 23 (Reuters) - General Electric delivered a shot of confidence to U.S. investors when it raised its dividend on Friday, pushing the S&P 500 through the key 1,100 level. GE (GE.N) gained nearly 4 percent in high volume after the U.S. conglomerate increased its quarterly dividend by 20 percent. GE's move spurred heavy institutional buying and sparked a decisive move higher, a positive sign of rising investor optimism. The wide-ranging impact GE has on the economy, coupled with another round of strong earnings, bolstered investor confidence. "GE is a company whose tentacles extend throughout large parts of the economy, and (the hike) clearly shows they're (having) a bit more visibility on their future cash flows," said Adrian Cronje, chief investment officer of Atlanta-based wealth management firm Balentine. Still, he noted the new 12 cent dividend was far below the 31 cents per quarter the company paid its shareholders before February 2009. For GE dividend story see [ID:nN23241252]. The Dow Jones industrial average .DJI gained 102.32 points, or 0.99 percent, to 10,424.62. The Standard & Poor's 500 Index .SPX rose 8.99 points, or 0.82 percent, to 1,102.66. The Nasdaq Composite Index .IXIC added 23.58 points, or 1.05 percent, to 2,269.47. The S&P 500 rose above 1,100 for the first time in a month. The gain -- along with other chart moves, such as an uptick on its daily moving average convergence-divergence, or MACD -- sent a bullish technical signal to investors. The Nasdaq erased losses for the year and ended flat while the Dow and S&P 500 remained negative so far in 2010. Manufacturers Honeywell International Inc (HON.N) and Ingersoll-Rand Plc (IR.N) posted better-than- expected results and raised full-year earnings views, further allowing investors to push aside fears of a return to negative growth. [ID:nN2393794]. Honeywell added 2 percent to $43.50 and Ingersoll-Rand gained 1.3 percent to $37.29. "On the whole the earnings season has been strong," said Anton Schutz, who manages the Burnham Financial Funds as president at Mendon Capital in Rochester, New York. "I think you got a pretty resilient economy despite the headlines." Verizon
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#1. To: no gnu taxes, badeye, lucysmom, fred mertz, war, sneakypete, brian s, skip intro (#0)
If GE is getting bullish on the recovery, that's very good news for the economy. They are also increasing their stock buy-back program.
Manufacturers who export have long had a reason to be bullish. GE is a different bird, tho. Anyone who is not in the middle of nowhere, is probably within about 10 feet of a GE made product or component.
I have to admit that I didn't know these two companies were still in existence.
Not to mention those that import cheap crap made in China by peasants or prisoners.
"I adore John McCain, support him 100 percent and will do everything I can to support his reelection. As everyone knows, I was honored and proud to run with him. And Todd and I were with him in D.C. just a week ago." (Sarah Palin,Dec 2009) ************************************ DID Palin say or write these things or not? (Me) I don't know or F ing care. (Mad Dog posted on 2009-12-26 16:36:33 ET,post # 105 http://libertysflame.com/cgi-bin/readart.cgi?ArtNum=5510&Disp=114#C114)
You forgot to mention children...
Their CEO is a huge Owe-bama supporter, and they've heavily invested in carbon tax bullshit. Tells me they think Harry Reid was lying about 'no energy legislation this session'. Figuring on this, I bought into GE almost two years ago. We'll see what happens.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
btw, this is 'meaningless' as to the national economy.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
His last politcal donation was to Rob Portman in Ohio. In 2008 he donated to Mitt Romney and John McCain, and Hillary Clinton but not Obama. See: http://www.newsmeat.com/ceo_political_donations/Jeffrey_Immelt.php You sir, are again, showing your ignorance.
But you have to forget that GE was going tit's up with it's gr capitol stuffed with Toxic Assets (still to this day) Fraudulent horse race tickets. The Money Markets are still frozen to this day. There will be no recovery. The Stock Market is just a number now that the US Gov't PPT posts now. There is zero relation to reality. "Feinberg also said he would do something for real estate owners whose properties lose value, although he wasn't sure what. On the one hand, he said, an owner hasn't suffered any losses because they still own the property and can wait for value to rebound. But if he carries that logic to its conclusion, he said, then owners will sell their beach property for a loss and then file a claim. That would then cause a further reduction in property value and would diminish government ad valorem tax bases. " Feinberg also said that just jawboning and public humiliation would be enough for the $1.6 Billion in bonuses to Wall St. LMFAO The US is nothing but a kleptocratic Plutarchy for the Top 50 000. All on the HellBound Express. 8D
Utter horseshit.
Obama's first all-by-his-lonesome budget, btw, calls for a $1.17 trillion deficit.
Being a Republicans means you get to choose your own reality
#2. To: go65 (#1)
#3. To: go65 (#0)
Manufacturers Honeywell International Inc (HON.N) and Ingersoll-Rand Plc (IR.N)
"To suffer the slings and arrows of outrageous liberals,
or to quit halfterm, and by opposing, rake in speaking fees." - ShakesPalin
#4. To: war (#2)
Manufacturers who export have long had a reason to be bullish.
#5. To: sneakypete (#4)
#6. To: go65 (#1)
If GE is getting bullish on the recovery, that's very good news for the economy. They are also increasing their stock buy-back program.
#7. To: go65 (#1)
#8. To: Badeye (#6)
Their CEO is a huge Owe-bama supporter, and they've heavily invested in carbon tax bullshit. Tells me they think Harry Reid was lying about 'no energy legislation this session'.
Being a Republicans means you get to choose your own reality
#9. To: go65 (#1)
If GE is getting bullish on the recovery, that's very good news for the economy.
#10. To: go65 (#8)
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