Posted On: 05/23/2012 8:17:29 PM
Post# of 99174
U.S. stocks recover from Europe-linked fall
NEW YORK (MarketWatch) — U.S. stocks turned mostly up Wednesday after another late-session comeback that came as investors looked for hopeful signals from Europe in dealing with a possible Greek departure from the euro.
“The news is not all bad. Clearly Europe is a mess, but we knew that,” said Bruce McCain, chief investment strategist at Key Private Bank.
“We don’t have the downside for the U.S. economy like we did last year with the Japanese supply disruptions, so the outlook domestically and for emerging markets is quite a bit better than last year, and we now know that the [European Central Bank] is likely going to backstop banks there if they have to,” he added.
Recovering from a 191-point drop, the Dow Jones Industrial Average (DJI
JIA) ended down 6.66 points, or 0.1%, at 12,496.15.
http://www.marketwatch.com/story/us-stocks-st...2012-05-23
NEW YORK (MarketWatch) — U.S. stocks turned mostly up Wednesday after another late-session comeback that came as investors looked for hopeful signals from Europe in dealing with a possible Greek departure from the euro.
“The news is not all bad. Clearly Europe is a mess, but we knew that,” said Bruce McCain, chief investment strategist at Key Private Bank.
“We don’t have the downside for the U.S. economy like we did last year with the Japanese supply disruptions, so the outlook domestically and for emerging markets is quite a bit better than last year, and we now know that the [European Central Bank] is likely going to backstop banks there if they have to,” he added.
Recovering from a 191-point drop, the Dow Jones Industrial Average (DJI
JIA) ended down 6.66 points, or 0.1%, at 12,496.15. http://www.marketwatch.com/story/us-stocks-st...2012-05-23
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