|
|
发表于 2010-5-27 07:58 AM
|
显示全部楼层
http://finance.yahoo.com/news/St ... p;asset=&ccode=
Stocks rise as China shows confidence in Europe
Stocks surge early after China says it has no plans to sell European debt it holds
ap
o
Buzz up! 0
o Print
*
Topics:
o International
Stephen Bernard, AP Business Writer, On Thursday May 27, 2010, 9:44 am
NEW YORK (AP) -- Stocks surged in early trading Thursday after China reassured investors it doesn't plan to sell any of the European debt it holds.
China's confidence in Europe is overshadowing disappointing reports in the U.S. The Labor Department's said initial claims for unemployment benefits fell last week, but not by as much as economists had forecast. A separate report on gross domestic product showed the U.S. economy did not grow as fast in the first quarter as previously thought.
Thursday's gains came after the agency that manages China's $2.5 trillion in foreign reserves denied a Financial Times report that China was considering cutting its exposure to European debt. Major indexes around the world also rose.
Concerns about whether mounting debt problems in Europe will upend a global economic recovery have dragged down stocks around the world in recent weeks. Volatility has also increased as investors remain jittery about how budget cuts in some European countries like Greece, Spain and Portugal could affect growth.
The euro, which is seen as an indicator for confidence in the health of Europe's economy, rose to $1.2242. Trading in major markets around the world has often tracked the euro in recent weeks.
In early morning trading, the Dow Jones industrial average rose 145.70 points, or 1.5 percent, to 10,120.23. The Standard & Poor's 500 index jumped 17.99, or 1.7 percent, to 1,085.94, while the Nasdaq composite index surged 47.26, or 2.2 percent, to 2,243.14.
The Labor Department said initial claims for unemployment benefits fell to a seasonally adjusted total of 460,000 last week. That's short of the drop to 455,000 that economists polled by Thomson Reuters had forecast.
High unemployment remains a stumbling block to a stronger recovery in the U.S. The unemployment rate jumped to 9.9 percent last month.
A separate report said the nation's economy grew at an annual rate of 3 percent in the first three months of the year, worse than an initial government estimate of 3.2 percent growth. The revised figured was also worse than the updated forecasts by economists that had predicted it first-quarter GDP rose 3.4 percent.
While slow, steady growth is seen as a positive coming out of the recession and helped drive stocks higher early in the year, it still isn't strong enough to make a big dent in unemployment. Growth would have to climb to around 5 percent for a year to cut the unemployment rate by 1 percentage point.
Even though stocks spiked in after the open, early morning gains have not necessarily meant the market will remain strong throughout the day.
Twice this week, stocks have rallied early in the day only to see those advances erased in late-day selloffs. The Dow Jones industrial average was up 135 points Wednesday morning, but ended the day down about 69 points. It was the Dow's eighth drop in the last 10 trading sessions.
The slide Wednesday afternoon was tied to the Financial Times report questioning whether China would cut its holdings of euro-denominated bonds.
Stocks had been rallying for most of the day after two upbeat reports on the U.S. economy. April durable goods orders and new home sales both rose more than forecast, providing evidence that the volatility in markets and concerns about a potential slowdown in Europe's economy have not affected a domestic recovery. |
|
狗仔卡
发表于 2010-5-27 08:04 AM
