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What Eurozone resolution are we talking about here?
On fears of a Eurozone resolution, and possibly a slight economic recovery fueling an Obama reelection.
Even the markets think Obama wants to take away our guns.
What Eurozone resolution are we talking about here?
Leaders today unexpectedly agreed to help out some of the banks and the stock market went through the roof.
http://www.cnbc.com/id/48011828
Stocks Soar; Dow Posts Best June Since 1997
Published: Friday, 29 Jun 2012 | 4:31 PM ET Text Size
By: JeeYeon Park
CNBC.com Writer
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Share
Stocks finished the final trading day of a weak second quarter with a huge bang as Wall Street cheered a surprise agreement by EU leaders to help the region's struggling banks.
Defying expectations for a "June swoon," the Dow logged its best June gain since 1997, while the S&P 500 and Nasdaq posted their strongest since 1999 and 2000, respectively.
“June is usually the second worst month for the market next to September, but this time was a bit of a fluke," said Art Cashin, director of floor operations at UBS Financial Services. (Read More: Four Good Reasons Not to Trust Today's Rally)
Still, all three major indexes posted significant losses for the quarter.
MAJOR U.S. INDEXES
Last 1 Week % Change MTD % Change QTD % Change YTD % Change
Dow 12880.09 1.89% 3.93% -2.51% 5.42%
NASDAQ 2935.05 1.47% 3.81% -5.06% 12.66%
S&P 500 1362.16 2.03% 3.96% -3.29% 8.31%
Russell 2000 798.50 3.01% 4.81% -3.83% 7.77%
CBOE VIX 17.04 -5.91% -29.18% 9.94% -27.18%
The Dow Jones Industrial Average surged more than 2 percent for the session, led by BofA [BAC 8.18 0.44 (+5.68%) ] and Cisco [CSCO 17.17 0.69 (+4.19%) ]. The S&P 500 and the Nasdaq also soared to post their best trading day in 2012.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, plunged more than 10 percent to close near 17, hitting a two-month low.
For the month, the Dow rallied 3.93 percent, the S&P jumped 3.96 percent, and the Nasdaq advanced 5.06 percent. BofA [BAC 8.18 0.44 (+5.68%) ] was the best performer on the Dow in June, while H-P [HPQ 20.11 0.75 (+3.87%) ] lagged.
Four S&P sectors are up more than 12 percent this year: Telecom, tech, consumer discretionary and health care.
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Gold as Safe as US Dollar?Cramer’s Earnings PlaybookPimco: Look at Mexico, BrazilFinding Footing in Financials
EU leaders at a summit in Brussels agreed that euro area rescue funds could be used to stabilize bond markets without forcing countries that comply with EU budget rules to adopt extra austerity measures or economic reforms.
The deal had followed Spain and Italy's earlier withholding of support for a growth package. European shares jumped to finish at a seven-week high following the deal announcement, but exact details of the agreement have yet to be worked out.
“It’s going to be very interesting when [Merkel] tries to sell this to the German people because this is a very unpopular decision on her part to compromise, but this is a breakthrough that we’ve been waiting for and it bodes very well for the markets,” said Michael Yoshikami, CEO and founder of Destination Wealth Management on CNBC's "Fast Money Halftime Report."
Apple [AAPL 584.00 14.95 (+2.63%) ] climbed after Pacific Crest raised its price target on the iPad maker to $690 from $630.
Among the few stocks in negative territory, Research In Motion [RIMM 7.39 -1.74 (-19.06%) ] tanked almost 20 percent after the embattled BlackBerry maker posted a wider-than-expected quarterly loss and added it would cut 5,000 jobs. Analysts were clearly disappointed—at least 18 brokerages lowered their price target on the Canadian company.
Nike [NKE 87.78 -9.11 (-9.4%) ] also tumbled after the sports-apparel retailer missed earnings expectations and as margins took a hit from costs and a restructuring charge. At least eight brokerages slashed their price target on the company.
And Ford Motors [F 9.59 -0.50 (-4.96%) ] dropped after the automaker said its international losses will likely triple in the second quarter, citing weakness in European sales. At least three brokerages cut their price target on the firm.
JPMorgan [JPM 35.73 -0.15 (-0.42%) ] ended slightly lower amid reports that regulators have stepped up scrutiny of the financial giant's internal controls, according to the Wall Street Journal.
Facebook [FB 31.095 -0.265 (-0.84%) ] slipped following a report that Twitter is seeing more success on its mobile advertising, according to the Wall Street Journal, and after Macquarie initiated coverage of the social-media giant with a "neutral" rating and a $35 price target.
IT management cloud service provider ServiceNow [NOW 24.60 6.60 (+36.67%) ] skyrocketed more than 30 percent in its market debut.
RELATED LINKS
EU Aid Deal Lifts Europe Shares to 7-Week HighGold Settles Above $1604 After EU Summit DealBrent Futures ed to Settle Near $98 on EU DealUS Bond Prices Fall as EU Summit Deal Eases BidEuro Soars on EU Deal; Investors Remain Cautious
Anheuser-Busch InBev [BUD 79.65 5.86 (+7.94%) ] completed the purchase of the half of Modelo that it didn’t already own in a deal valued around $20 billion.
Alson on the M&A front, Constellation Brands [STZ 27.06 5.30 (+24.36%) ] surged to lead the S&P 500 gainers after the company bought the remaining 50 percent of Crown Imports.
Results of the EU summit trumped a batch of tepid economic news. Consumer sentiment dipped to its lowest level this year, while consumer spending was flat in May for the first time in five months.
The pace of business activity in the Midwest edged up in June, according to the Ins ute for Supply Management-Chicago's business barometer.
“These reports are more of a psychological indicator that reflects the mood during the survey and doesn’t reflect the future,” said Dwight Johnston, chief economist at California Credit Union League.
Johnston says the economy may be “close to a bottom” and expects consumers to be more active, business spending to grow and hiring to ramp up going forward. He predicts growth of between 2.5 and 3 percent in the second half of the year, barring any overly negative news from the euro zone.
—By CNBC’s JeeYeon Park (Follow JeeYeon on Twitter: @JeeYeonParkCNBC)
On Tap Next Week:
MONDAY: ISM mfg index, construction spending, Wal-Mart 50th anniversary
TUESDAY: Factory orders, auto sales; NYSE early close
WEDNESDAY: INDEPENDENCE DAY - Bond, equity markets closed
THURSDAY: Weekly mortgage apps, Challenger job-cut report, ADP employment report, ISM non-mfg index, oil inventories, chain-store sales
FRIDAY: Non-farm payrolls
http://www.abc15.com/dpp/news/nation...-role-in-sales
"Cowen & Co. analyst Cai von Rumohr said that future sales are heavily dependent on presidential politics. In a research report, he said demand for firearms could slow down if Republican nominee Mitt Romney wins, "but it could remain strong if Obama wins as gun buyers may fear tighter gun controls in his second term."
Dumb redneck neocons
Mittens is at least as strict on guns as Obama if not more... just check his D- grade from GOA or his record in Massachusetts....
plenty of liberals and foreigners in the stock market brah, seems that the entire world market feels that obama is a threat to gun rights
I agree with them... but the idea of Mittens not being an equal threat is flat-out wrong...
God, guns and ammo went ing nuts in 08 and 09 on Obama paranoia.
just be glad fast and furious got botched lol, that was the plan to demonize gun ownership and further the agenda
They're probably arming themselves in case somebody decides to take cir cision away from them...
brb exercising my 2nd amendment
brb not sexually assaulting infants
Yep.
Take them away from us, and give them to his Chicago gangster buddies.
This gun taking paranoia is hilarious. As soon as Obama got elected the sale of ammo went through the roof. There is a picture of the president in every gun shop as "Salesman of the Year". We are into Obama's fourth year as president, and he has passed no major gun legislation. If tighter gun laws were not passed after Gabbie Giffords got shot, they are not going to be anytime soon.
He had a filibuster-proof congress and didn't go after guns. He's not going to do anything. It's an enormous political loser for him.
True. But thats not going to prevent the uneducated morons from clinging to their guns and their religion. It'd be funny if it wasn't so ing true.
if obama was going to do something terribly unpopular, he wouldn't do it in the first term guys
try to think about it logically
Obamacare says hi.if obama was going to do something terribly unpopular, he wouldn't do it in the first term guys
try to think about it logically
obama got a big boost of support and donations after that ruling, dude, where have you been? the only people who were against it were already against him in the first place. this only rallied his support amongst the minorities who think that obama is doing great things to help them
He sure as heck isn't doing anything with guns with a GOP controlled house... he just doesn't have the votes...
just like when the dems got in they were going to end all the wars
the day people wake up and realize that political parties are all a sham, they both carry out the agendas of the puppetmasters will be a glorious day for mankind.
the puppermasters want guns... otherwise, there would be no guns right now...just like when the dems got in they were going to end all the wars
the day people wake up and realize that political parties are all a sham, they both carry out the agendas of the puppetmasters will be a glorious day for mankind.
that's not true. we're not to the point where they could actually take our guns away from us without a civil war. they have to condition people first that guns are bad, that's what fast and furious was designed to do before they botched it and got busted.
LOL what a bogus analysis. They annouced earnings yesterday, beating estimates by 10 cents, and got a 20% bounce on 4x avg volume. Big deal, the price will drop back down in a week or two.
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