“The double-dip seems to be off the table"

[impik]

Stocks surged, sending benchmark U.S. indexes to the highest since May, while Treasuries retreated and the Dollar Index slid to an almost eight-month low as demand for American capital equipment rebounded and German business confidence improved. Silver reached a 30-year high.

The Standard & Poor’s 500 Index climbed 2 percent to 1,147.16 at 1:28 p.m. in New York, its biggest gain in three weeks. The MSCI Emerging Markets Index rallied to the highest level since July 2008 after Brazil’s Petroleo Brasileiro SA set a global record with a $70 billion share sale. Ten-year Treasury yield rose 5 basis points to 2.61 percent. The Dollar Index, a measure against six major peers, lost 0.8 percent to 79.351 as the Swiss franc climbed to a record against the U.S. currency.

The growth in orders for capital goods such as computers and communications gear helped assuage concern the world’s largest economy may relapse into another recession. German business confidence unexpectedly rose to the highest level in more than three years, even as costs to protect the bonds of Europe’s most-indebted nations reach records.

“The double-dip seems to be off the table,” said Eric Mintz, who helps oversee $3.3 billion at Eagle Asset Management in St. Petersburg, Florida. “The durable goods report was strong, it supports the idea that companies are spending money, which is important for overall economic growth. So it’s another bullish indicator.”


http://www.bloomberg.com/news/2010-05-20/stocks-rebound-in-europe-copper-rises-euro-slips-u-s-futures-fluctuate.html

[bluestateguy]

1. Hear that groaning?

That's the sound of Mitt Romney, Tim Pawlenty and Haley Barbour's stomachs growling.

[JuniperLea]

2. This will not bode well for those who want Obama to fail...

They were drooling over it already.

[Andy823]

4. Don't worry

Next week it could be back on the table again! The closer to elections we get, the more you will probably hear talk about a double dip, and then after the election, no more double dip!

I think big business, wall street, and the banks have been working very hard to make things look really bad for president Obama, but even these guys can't pass up good buys. I am sure before the elections they will pull in on buying and the market will go down again!

[vaberella]

10. Always. n/t

[Andy823]

3. It's all hype

Stocks do well, no double dip in site. Investors sell off all the stock they bought when stocks were low, now it looks like a double dip. Investors buy up more stocks at low prices because everyone is selling, stocks go back up, double dip fear are gone, The process keeps repeating itself as those with the big money get richer and richer! Before we had the "bubbles", the oil bubble the housing bubble, where price went through the roof, then investors who knew these things were way over priced started selling, and price dropped like a rock. The housing bubble was more of a musical chairs type thing, or a pyramid scheme where mortgages were sold and resold and the when the music stopped the guys holing the paper lost, big time as did those who had bought the homes in the first place!

It's like the economy. Someone says it looks good, the market goes up, somebody else comes out and says "not so good", market goes down. It's a roller coaster ride and if you have a lot of money and know what your are doing, you can make a lot of money. If you don't know what you are doing, you can lose a lot. I think that gold is the next "bubble" and when it drops, once again the little guy who got in but really doesn't know what to do will lose big time, while those who have been jacking the prices up, as they did with oil, will make a fortune, just like they did with oil!

This is just the way I see things!

[JCMach1]

6. Not hype, the corner has turned- doesn't mean things are peachy, but turned

And we need to start giving Obama the credit!

[NJmaverick]

5. The double dip was a false talking point of Republicans/Right Wingnuts/Tea Partiers

and sadly was also the pushed by Quixote liberals who just love to new ways of attacking the President. Many of them hope that their active attacks on the economy would be a self fulfilling prophesy. After all if you scare enough people and shatter consumer confidence you will hurt the economy as a whole.

[JCMach1]

7. Exactly, and we need to start crediting Obama...

[vaberella]

9. By crediting Obama, you credit Geithner and Summers---DUers on average won't do that.

Yes these guys did wrong but under the Obama admin they managed to reverse a good deal of the shit they helped to cause. But you still won't get the credit given to Obama because of those two. Guilt by association in effect. Additionally many seem to think that Obama rejected Krugman in some way and that's really all his fault why the economy isn't moving fast enough. So this irrational belief that Krugman should have been in that role of Summers and so on and so forth.

[vaberella]

8. And many DUers....didn't Paul Krugman say the same? n/t

[vaberella]

11. Thanks for the update impik. Great news and I'm glad Obama was able to fix this. n/t