Stock Market Direction 6/16/10 And Investment IdeasNEW YORK (TheStreet) -- Quick food chain McDonald's (MCD_) reported comparable-revenue growth of three.one%25 in May. U.S. and Europe similar sales had been up two.4%25 and two.3%twenty five, respectively. Exact same-shop revenue rose 4.three%twenty five in the Asia/Pacific, Center East and Africa.
The Convention Board's index of U.S. consumer confidence fell to 60.8 from a revised 66 studying in April, compared with a Bloomberg study forecast for a increase to 66.six. The Chicago purchasing-manager gauge dropped to fifty six.6 in Might, from sixty seven.six in April, compared with a Bloomberg survey's forecast for sixty two.
With the deals on the Street continuing to flow, the marketplace is ready to increase again in the face of poor information from the Commerce Division. The U.S. first quarter GDP rose by a paltry .6%twenty five. The GDP is regarded as to be the most essential financial metric in measuring the accurate health of a country's economy. Investors experienced anticipated a greater development price, according to the Associated Push.
General Motors is in the most difficulty and is most likely going to eat most of the $14 billion up for grabs. The only factor keeping GM back is the reality that most of Congress wants their CEO, Rick Wagoner, gone as a precondition to any accessibility to federal funding. This doesn't sit too well with GM.
"There are no indications that the U.S. economic climate is going into economic downturn. I'm pretty bullish as the market is fairly valued," Peter Dunay, an investment strategist at Leeb colbeck capital in New York, informed Bloomberg.
We are now suffering through the fallout of the housing bubble - the immediate outcome is a recession, bear inventory market, and "credit crisis" from banking institutions who went nuts during the bubble.
The Dow Jones Industrial Average finished up losing only fifty nine points on Thursday, to near at 12,050 for a reduction of forty nine basis points (.forty nine %) despite hitting a reduced of eleven,874. The S&P 500 misplaced 28 basis factors (.28 percent) to end at 1,283 after hitting a reduced of 1,262. The NASDAQ Composite really finished in good territory, gaining 66 foundation factors (.sixty six percent) to finish the day at two,686.
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