|
Stock Market Jumps After Unexpected Increase in Consumer Confidence Index |
|
|
|
|
Monday, 18 May 2009 |
The stock market jumped higher today, as stock investors got news that the consumer confidence index has increased from 40.8 to 54.9. The Dow Jones increased up to 200 points today, signaling one of the strongest stock market gains over the months.
On the other hand, major retailers such as Macy’s, Best Buy Co and even Home Builder KB Home are enjoying positive growth for their stocks today. Macy’s stocks increased 5.9 percent, while Best Buy Co. advanced 5.8 percent while Home builder KB Home had the biggest increase of 6.4 percent. Also, Apple’s stocks have shown positive growth as well. The company stocks raised a total of 6 percent today, which is far significant when compared to other electronics stocks.
Personally, I feel that the stock market performances today signal one of the best signs in economic recovery. I believe that the recent economic recession was a temporary one and that it didn’t even last more than 6 months. Of course, let’s just hope that the consumer confidence index would rise a couple of notch further for the next couple of months?
 |
Subscribe to this comment's feed