The U.S. stocks bolted higher on the back of surprisingly cheerful jobs report which activated a chain reaction by raising the buying interest that further pushed both the Dow Jones and S&P 500 to multi-month highs, while the NASDAQ Composite hit its greatest level in more than a decade.
The S&P's downgrade of the U.S. credit rating could not have come at a worse time. S&P should have waited for the agreement reached by Congress last week to play out at least until year-end.
Financial stocks were mixed on Friday with the major banks sliding on European debt woes and credit companies ticking higher on news of consumer confidence that outshined expectations.
U.S. stocks took a breather from the huge momentum swings of historic drops and rebounds to extend on yesterday's gains. Investors may be looking to find a bottom and buying opportunities.
Hong Kong blue chips opened higher with a global rally caused by German and French efforts to ease Europe's credit concerns. Profit-taking cut into gains, but Hong Kong still ended sharply higher.
Some distrust toward blue chips arose after the Dow Jones took a major hit in the massive volatility swings. Many health companies continue to hover toward the bottom of their 52-week range in spite of being a safer bet than the treasury's many investors are chasing.
12 new lawsuits against major financial institutions for their involvement with mortgage backed securities prior to the 2008 financial crisis led shares of bank stocks lower. The ailing sector has little ammunition remaining to...
Hong Kong gained as increased optimism that Europe will solve its debt crisis boosted Asian markets. However, turnover fell, reflecting a lack of momentum.