Wednesday, May 27, 2009

Market Reflections 5/26/2009

A second straight big surge in consumer confidence fed a big rally in the stock market where the S&P 500 rose 2.6 percent to 910. Two months of confidence gains, centered in future expectations, may point to a bottoming in the recession, but they don't point to strong recovery. General Electric offered its view, saying the global consumer is now conservative, a shift that will limit the pace of future economic growth. Still deep trouble in the housing sector will also limit the recovery. Case-Shiller data showed steady and severe rates of home-price contraction

No comments:

Post a Comment