Stock Market News: Stocks Rally Today
Today’s stock market news is that there is a rally going on right now. After struggling for a few sessions, the stock market is turning around and an infusion of confidence is being felt by investors.
Hewlett-Packard surges ahead on the stock market
One of the biggest leaders of today’s rally is Hewlett-Packard, which is making tremendous gains on the Dow. The reason behind HP’s success has a lot to do with the fact that its laptops are in high demand in Asia and Europe. Thanks to these increased orders, sales and profits are up for the company.
Hewlett-Packard is not the only technology advancing right now. Industry earnings as a whole are projected to increase as consumers start picking up their spending again. Intel and EMC are two more technology companies enjoying earnings that beat expectations.
Financial sector rally
With confidence gaining in other stock market sectors, the financial sector is seeing some optimism as well. As investors start to think that maybe the worst is over in terms of mortgage market losses, banks are starting to see some improvement. Bank of America and Lehman Brothers are both seeing gains today, Lehman in spite of recent bad news. Many investors are also seeing now as a good time to invest in the financial sector, while prices are still low. Bloomberg reports on today’s stock market rally:
“There’s not a lot of news to grasp onto in these last two weeks of August, so what news does come out and is positive, investors are flocking to that,” Leo Grohowski, who helps oversee $162 billion as chief investment officer at Bank of New York Mellon Wealth Management, told Bloomberg Television. “Investors will have rolling opportunities to get into the financials.”
If you feel optimistic about the stock market, it may not be a bad time to load up on some of the cheap stocks that have the potential to make a good recovery in the near future.
Disclaimer: I am not an investment professional. Nothing in this piece or on this Web site should be construed as investment advice. Before making investment decisions, do your own research and/or consult with an investment professional. All investment comes with the risk of loss. You are responsible for your own investment decisions and any loss that may result from your decisions.
Tags: stock market, stock market news, investing blog, stock market rally,
stocks rally, investments, financial sector
August 21st, 2008 at 1:40 pm
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