Stock Market Bull Market

By jscreationzs

We received news of a huge Hurricane heading to the east coast last week. It had 55 million people in its path. They name it, Irene.

The media told all of us that it could be a big one and could cause a lot of death and destruction. Although it caused a lot of destruction, it was far less than expected. I am here in Queens, New York and I can honestly say that I didn’t even see the storm as a hurricane. I know a lot of people would disagree, but my placement in New York was perfect because the Hurricane barely did damage.

Since Hurricane Irene didn’t cause much damage, the Stock Markets rallied. The damage was far less than previous expected and today investors felt good about the market. This good news came just a few days after FED Chairman Bernanke gave good news about the growth in the US Economy and said that we were going on the right path. With these two factors, the stock market rallied in every sector today.

The Dow Jones Industrial Average soared 254 points today finishing at 11,539 points. We are closing in on the 12,000 mark with the Dow Jones and I hope that the momentum continues throughout the rest of the week so that we can hit that 12,000 mark that we haven’t seen for weeks.

The NASDAQ Composite jumped more than 3.3% today with a gain of 82 points, finishing off at 2,562. The NASDAQ is getting close to its 52 week high of almost 2,900 and hopefully it does. It will signal a great time for the economy because it will truly point towards the fact that it is growing.

The S&P 500 saw a gain of 33 points finishing off at 1,210. And the New York Stock Exchange (NYSE) saw a gain of more than 204 points finishing off at 2,450.

The stock market saw gains everywhere.  Even the price of gold grew from when I reported it’s price Friday evening. I reported that the price of gold was about $1,781 an ounce in my article titled “Stocks Rally After Positive Outlook by FED Chairman Bernanke” on Friday. At this moment, Gold is at a steady $1,786 an ounce. As I mentioned last week, it seems that the price of gold is stabilizing. It has been around this price for days now. It has fluctuated greatly over the weekend, mostly because of Hurricane Irene, but it always goes down to the high $1,700 mark. And since Friday evening, Gold has only gained $5. It could mean that investors are putting their money in stocks and not Gold because they believe the price of gold will not go back up.

I believe that the price of gold will continue to fluctuate over the rest of the week. The price of gold is still very volatile and it can go up and down in huge amounts in short periods of time and without warning. I also believe that the overall average price of gold will continue to drop as the year passes. Lately, we’ve been around the $1,780 mark, and the average price should keep going down as investors see that the price of gold capped out at just over $1,900 less than 2 weeks ago and that the US Economy is on the right track to recovery.

Since I’ve been keeping my eye on Universal Display Corporation (PANL), I’ll give you an update. Today, it was one of the few stocks to actually go down. It only went down $0.49 a share. However in after hours trading, PANL saw another rise of $4.68 per share, or just over 9%. Earlier this evening, PANL has announced that they have made an agreement to work with Panasonic Idemitsu OLED Lighting Co. Ltd. Cooperation between companies is usually a positive thing and this time it was. Investors saw the opportunity  Universal Display Corporation (PANL) has given them because they just opened up to more revenue as the year passes. And now it’s that much closer to it’s 52 week High and I believe it will hit it and maybe surpass it this week if its momentum keeps up.

Overall, Today was a great day for the stock market. Let’s hope it continues for the rest of the week because the US Economy definitely needs a break after what it went through the last half of the summer. We almost went the other way with Hurricane Irene and we probably would have if the damage was any higher. I’m glad that Irene didn’t cause as much damage as previously thought and I hope that all of you and your families are safe!

Nazmus

Loves creating websites and helping others. Some websites include, EasyProgramming.net, Nazmus.com, and Gamers-Forum.com.

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