Posted By RichC on August 15, 2011
We’ve started off the week in a more upbeat fashion as the expectations are high for some kind of deal on Tuesday from the Europeans. Hopefully they’ll be able to sooth the jitters many are having over banking and Eurozone’s socialist mentality. I’m not holding my breath that they’ll be able the make the social programs cuts over on that side of the pond any easier than we can hear. Eventually the borrow and deficit spend now will sink even the most productive countries.
For now, stocks advanced leveling out last week’s losses. The Dow finished 213.88 points higher, or 1.9%, to 11482.90, which almost the high for the day. The Standard & Poor’s 500-stock index ended with a 25.68-point gain and the Nasdaq Composite wsa up 47.22 points. For those long, it did feel better than last weeks decline.
Can we continue with the optimism or are we facing such slow growth that companies will sit on their cash rather than invest and hire? Personally all the talk about investors chasing dividend stocks rather than growth has me think the latter.