The Market See Saw Continues
Looks like investors really want the markets to move up. Any indication of good news, and we see them rushing in. After a moderate pullback, the Dow rose 173 points yesterday. This came after four days of losses.
The catalyst for this surge was earnings reports of a handful of companies which suggested that the economy looked to be turning around. The market was specially buoyed by the results of Lennar Corp. which said that orders for new homes jumped 63% during the second quarter and its revenue exceeded targets.
Encouraging earnings from the retail store Bed Bath and Beyond Inc too was looked at very favorably by the investors. It is now a situation where investors have had enough of the recession, and are willing to pick up any sign which shows that the future is bright.
