“U.S. stock-index futures advanced after the government said the economy contracted less than forecast in the third quarter and investors speculated global interest-rate cuts will stem a further slump,” Eric Martin reports for Bloomberg.
“Alcoa Inc., General Motors Corp. and Citigroup Inc. led gains in Dow Jones Industrial Average stocks after the economy shrunk 0.3 percent last quarter, compared with a 0.5 percent decrease projected by economists. Exxon Mobil Corp. and Colgate- Palmolive Co. climbed on better-than-estimated earnings. The advance in futures added to a global rally as Hong Kong joined the U.S. in lowering borrowing costs and the Federal Reserve provided $120 billion to spur lending in emerging markets,” Martin reports.
“Standard & Poor’s 500 futures expiring in December jumped 34.8, or 3.8 percent, to 961.8 at 9:12 a.m. in New York. Dow Jones Industrial Average futures advanced 366, or 4.1 percent, to 9,220, while Nasdaq-100 Index futures increased 38.5, or 3 percent, to 1,332.5,” Martin reports.
Full article here.
MacDailyNews Note: In pre-market trading, Apple Inc. (AAPL) is up $3.41, or 3.26%, to $107.96 on volume of 601,726.
Obviously, the Obamatards don’t like hearing this. The silence is deafening.
http://www.wikio.com/video/518864
What could be the cause of such a calamity for The One?
Must be racism.
The situation appears to be a bit better than our worst nightmares, but I wouldn’t call it great. Besides, with the amount of money that has been pumped into the U.S. economy over the past eight years via deficit spending (tax cuts, war, stimulus package, more tax cuts) and consumer borrowing, and the trillions that have recently been pumped into the world economy to address the financial calamity resulting from unchecked greed, corruption and general idiocy, the presence of a slightly less negative economic response is expected. In fact, given all of that stimulus, the concern should be that the effect of this sustained cash infusion has been rather underwhelming.
There are still many long-term problems to overcome – they took a long time to develop and will take a long time to fix. The problem is, the U.S. has already blown the bank over the past eight years. Will the world (China) continue funding the U.S. debt? If not, we are in big trouble.