Stock Markets go up on expectation

by jscreationzs

Earlier today it seemed as if the stock market would see another day in the red, adding to the losses it already incurred over the past few market days. But hopes for recapitalization of European banks allowed for a late day come back. Nothing official has been done yet, all that was announced is that financial leaders are working on it. So there you have it again, ‘hope’ and mentality can go a long way when it comes to the stock market’s status.

So the expectations of people regarding the European banking system has gone up. Everyone is expecting the banks to be recapitalized by whatever plans their financial leaders have in mind. Hopefully it works out for the best and everyone comes out of debt without a problem. This will definitely help Greece out as well and if everything goes to plan, we could be out of the recession soon.

The Dow Jones today was losing earlier. But at the end of the market day, the Dow saw a gain of more than 153 points, finishing off at 10,808. We are still a few hundred points from the 11,000 mark that we left behind in the past few market days. Today was definitely a good turnout for the Dow.

The NASDAQ Composite saw a gain of almost 69 points or almost 3%, finishing off at 2,404 points. The S&P 500 saw a gain of more than 24 points, finishing off at 1,123, once again over the 1,100 mark. And the NYSE gained more than 148 points finishing off at 6,722.

Most stocks saw gains today however a few did lose. Eastman Kodak (EK) saw a loss of more than 16% or $0.22 per share. It wasn’t a huge drop but as expected, yesterday’s increase of more than 71% gave investors a good opportunity to sell with a big profit. This definitely does not mean that Kodak is out of trouble yet. They still have tons of work to do and if they can find a decent amount of investors, I am sure they will be able to get out of their financial crisis without a problem.

Today was a good turnout at the end of the market day. I am glad to see things bounce back at the end. The market may have seen even bigger increases if the news about Europe’s banks came in earlier. It definitely would have had more time to go up in value. ┬áBut I’m not complaining, at least some good news came.

There are still three days left for the market week. What do you think will happen to the stock market? Do you think it will keep going up? Or drop like it did last week?