I started serious Investing Journey in Jan 2000 to create wealth through long-term investing and short-term trading; but as from April 2013 my Journey in Investing has changed to create Retirement Income for Life till 85 years old in 2041 for two persons over market cycles of Bull and Bear.

Since 2017 after retiring from full-time job as employee; I am moving towards Investing Nirvana - Freehold Investment Income for Life investing strategy where 100% of investment income from portfolio investment is cashed out to support household expenses i.e. not a single cent of re-investing!

It is 57% (2017 to Aug 2022) to the Land of Investing Nirvana - Freehold Income for Life!


Click to email CW8888 or Email ID : jacobng1@gmail.com



Welcome to Ministry of Wealth!

This blog is authored by an old multi-bagger blue chips stock picker uncle from HDB heartland!

"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

"For the things we have to learn before we can do them, we learn by doing them." - Aristotle

It is here where I share with you how I did it! FREE Education in stock market wisdom.

Think Investing as Tug of War - Read more? Click and scroll down



Important Notice and Attention: If you are looking for such ideas; here is the wrong blog to visit.

Value Investing
Dividend/Income Investing
Technical Analysis and Charting
Stock Tips

Tuesday 13 May 2014

Dow, S&P 500 close at records as tech stocks rally

























NEW YORK: The Dow and S&P 500 on Monday closed at fresh record highs, spurred by a strong rally in technology stocks that lifted the Nasdaq Composite Index by nearly 1.8 per cent.

The Dow Jones Industrial Average jumped 112.13 points (0.68 per cent) to 16,695.47, while the S&P 500 gained 18.17 points (0.97 per cent) to 1,896.65.

The Nasdaq added 71.99 points (1.77 per cent) at 4,143.86.

Analysts said there was no obvious catalyst for the rally, but pointed to a sense in the market that technology stocks had been oversold as investors worried the sector was overvalued. The Nasdaq dropped 6.6 per cent between March 5 and last Friday.

Some money managers "have figured some of these tech stocks have been hammered a little too hard," said Michael James, managing director of equity trading at Wedbush Securities.
Big gains were posted by prominent technology stocks like Facebook (+4.5 per cent), Netflix (+5.1 per cent) and Twitter (+5.9 per cent). Some stocks in biotechnology, another hard-hit sector, also rose, including Biogen (+4.9 per cent) and Celgene (+2.6 per cent).

Still, James detected caution in the market in light of fairly modest trading volumes.

"There's just as many people watching as there are participating today," James said. "I don't feel like there's some huge groundswell of confidence behind this move."

Botox-maker Allergan turned down an unsolicited takeover offer worth about US$45.6 billion from pharmaceutical company Valeant, saying the bid "substantially undervalues" the company.

In response, Valeant, which is working with activist investor William Ackman, asked Allergan for a list of shareholders as part of a plan to take the offer directly to shareholders, according to a Valeant securities filing. Allergan fell 1.0 per cent, while Valeant lost 0.8 per cent.

Pinnacle Foods agreed to be bought by Hillshire Brands in a deal worth US$6.6 billion. The transaction will boost Hillshire's presence in frozen-food categories. Pinnacle jumped 13.2 per cent, while Hillshire fell 3.2 per cent.

Dow component IBM picked up 1.3 per cent ahead of an annual investor day Wednesday. Chief executive Virginia Rometty told The New York Times that IBM is making progress building new business lines despite facing a "rocky time." Revenues have declined for eight quarters in a row at the tech giant.

Bond prices fell. The yield on the 10-year US Treasury rose to 2.66 per cent from 2.63 per cent on Friday, while the 30-year increased to 3.49 per cent from 3.46 per cent. Bond prices and yields move inversely.

No comments:

Post a Comment

Related Posts with Thumbnails