Stocks Gain; Dow Has Longest Win Streak Since 1996
Source: MarketWatch
Equities advance has S&P 500 less than 11 points from record close
By Kate Gibson, MarketWatch
NEW YORK (MarketWatch) U.S. stocks posted slight gains Wednesday, with the Dow Jones Industrial Average capping its longest win streak in more than 16 years after February retail sales beat expectations.
The figures from the Commerce Department had retail sales up 1.1% last month, the largest gain in five months and better than forecast.
The numbers were very good; the consumer is showing incredible resilience, having absorbed the dysfunction in Washington and the payroll-tax increase, said Ron Florance, managing director of investment strategy for Wells Fargo Private Bank.
--CLIP
The finish marked a ninth straight day of gains, the Dows longest such run since a 10-session win streak that ended Nov. 15, 1996.
The stock market has basically been playing catchup. People had so much money on the sidelines, and now they realize the world is not coming to an end, said Florance of the markets advance that has the S&P 500 index up 9% this year.
Read more: http://www.marketwatch.com/story/us-stocks-fall-dow-retreats-from-record-2013-03-13
yellowcanine
(35,692 posts)For a long time there I wasn't even looking at them.
L0oniX
(31,493 posts)Down on Main-street, not so much--so, who cares? My guess is a crash is a coming. Just about when they sucker in all of the poor and middle class folks, they'll start stripping out their money, throwing it into government bonds they have to sell to finance the government, draw interest and a safe place to put their money, from the rest of the taxpayers, while the stock prices drop.
ZOB
(151 posts)At the end of this month, the U.S. begins to default on its loans unless Congress raises the debt ceiling...and that will not bode wekk for the stock market.
riverbendviewgal
(4,251 posts)that nasty Muslim socialist.
dtom67
(634 posts)as soon as the Fed stops printing money, Bye bye equity bubble!
Not even close. If the Fed stops "printing money" the first bubble to burst will be precious metals. Tons of that money will pour into equities. Your market calculus needs calibration.
dtom67
(634 posts)If there were, you wouldn't see the depression of PM prices in London and elsewhere.
When the Fed quits printing, its "Risk off"; even the Algo's will follow suit.
Good luck.
quaker bill
(8,223 posts)is QE and the mass marketed fear of hyperinflation. If easing stops before any real inflation materializes, per the current plan, metals will complete the correction. A large chunk of the volume in the PM futures market of late has been a shift from longs to shorts. Many of the bigger players are now going net short. I do not claim to know the event that will trigger the big move, but it is not far off.
I do not invest in PMs, I just buy them as raw materials to make art jewelry. Since I sell at many multiples of spot the price, the price is only relevant to my net profit. I am however looking forward to a bargain buy.
Equities have been outperforming metals for well over a year now. This will continue and accelerate as the economy improves. A good chunk of that will be $ shifting from metals to equities. The big losers will be the preppers who hold over priced physical PMs as they simply will not be able to bail fast enough. Collectible french gold francs will be the next beanie babies. The only difference will be melt weight value at perhaps 25 cents on the dollar paid to purchase them from Glenbeckisan.
I could use some cheap 24K to alloy up my 14K scrap, 18K and 22K work far better in the art jewelry market.
motocicleta2
(44 posts)Your guy destroys the economy, ours is cleaning up your messes.
L0oniX
(31,493 posts)motocicleta2
(44 posts)I still think President Obama deserves credit for cleaning up W's mess.
Ghost Dog
(16,881 posts)Research In Motion Ltd BB 16.04* +1.21 (8.16%) 8,404.96M 10.23M 14.52 16.13 14.47
... Oh, Ok, sorry. That's Canadian. Loonies.
Carry on...
lexw
(804 posts)I need one!
klyon
(1,697 posts)just think if the rethugs had tried to help instead of hinder what our economy would look like
DCBob
(24,689 posts)Business thrives under GOP leadership!
Economy responds to Republican fiscal policies!
Romney economic genius!!
slackmaster
(60,567 posts)Just as the present uptick has nothing to do with the current administration's policies.