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Title: Stocks, Dollar Advance on Economy Outlook
Source:
Bloomberg News
URL Source: http://www.bloomberg.com
Published: Feb 17, 2010
Author: Nikolaj Gammeltoft and David Merritt
Post Date: 2010-02-17 16:11:49 by war
Keywords: None
Views: 288
Comments: 1
Feb. 17 (Bloomberg) -- Stocks and the dollar rose as higher-than-estimated earnings and economic data signaled the global recovery is gaining momentum. Treasuries slid as Federal Reserve minutes showed policy makers debated selling assets. The MSCI World Index of 23 developed nations’ stocks advanced 0.7 percent at 4:02 p.m. in New York. The Standard & Poor’s 500 Index rose 0.4 percent a day after the benchmark U.S. equity measure surged the most since November. The Dollar Index rallied as much as 1 percent to 80.528, weighing on metal prices and shares of commodity producers. The yield on the 2-year Treasury note rose six basis points to 0.86 percent and the 10- year yield increased eight basis points to 3.74 percent. Shares of Deere & Co. and Whole Foods Market Inc. rallied after reporting earnings that topped analyst estimates, joining the three-quarters of S&P 500 companies posting higher-than- estimated results since Jan. 11. U.S. housing starts and industrial production increased more than economists projected in January, government data showed, adding to evidence growth is accelerating in the world’s largest economy. “The fundamentals are trending in the right direction,” said Hank Smith, who helps oversee $6 billion as chief investment officer of Haverford Trust Co. in Radnor, Pennsylvania. “The economic data continues to trend to the positive, corporate profits by and large exceeded expectations and some of the global uncertainty about sovereign debt has been taken away. We have an unprecedented worldwide recovery going on.” Rally Extended The S&P 500 added to yesterday’s 1.8 percent rally, its biggest in three month. U.S. equities maintained gains today, and Treasuries extended losses, after minutes from the Federal Reserve’s meeting last month showed policy debated how and when to shrink the central bank’s $2.26 trillion balance sheet. Some policy makers pushed to start selling assets in the “near future,” the minutes showed. Eight of 10 industry groups in the benchmark for U.S. stocks advanced, led by health-care, consumer and industrial companies.
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#1. To: Badeye (#0)
Thought I'd save you the trouble...(laughing)
The fact I was an RM2 escapes you obviously, and what that implies. Badeye posted on 2007-01-30 16:42:29 ET Reply Trace 
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