Wednesday, June 22, 2011

Dow Jones Rises 110 Points For 4th Straight Gain

Wall Street recap: Dow Jones rises 110 points for a 4th straight gain
The Dow continued its relief rally by 110 points to 12190, despite a steeper drop of 3.8% in the May existing home sales to 4.81m (consensus 4.75m), in anticipation of a vote of confidence in Greek’s Prime Minister to win international aid to shore up its
finances. As expected, Greek Prime Minister George Papandreou survived a key no-confidence vote, paving the way for the introduction of critical measures to stave off default.

However, trading volume was light, awaiting new leads and the outcome of FOMC meeting today.

Daily Dow Jones Has More Relief Rally Towards 12450-12550 Zones


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