Thursday, February 16, 2012

Dow Jones Rebounds On Strong Economic Data

Wall Street Recap: Dow Jones rebounds on strong economic data
The Dow Jones jumped 123 points or 1% to 3-year high at 12904, recouping 15 Feb’s 0.8% decline, amid positive economic data from weekly jobless claims, February Philadelphia manufacturing index and Jan builders permits, discounting Moody’s warning to put 17 global banks and 114 European financial institutions on review for possible downgrades.

Sentiment also improved on unconfirmed report that the ECB is swapping its Greek bonds for new ones to ensure it is not forced to take losses in a debt restructuring. European governments are also considering cutting interest rates on emergency loans to Greece and using contributions from the ECB.

Daily Dow Jones -Likely To Find Good support Near Crucial Uptrend Line


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