US markets are in a bullish way

Discussion in 'Economics' started by tradebenz, Oct 24, 2006.

  1. Standard & Poor’s 500 Index touched record high since 2000 and Dow Jones crossed 12000 points milestone as falling in oil prices and increase in consumer spending. Wall Mart, the largest retailer in the world, shares advanced after it announced some plans to reduce the expenses. The Federal Reserve may keep interest rates unchanged in spite of the slump in housing market and these anticipations in the market encouraged share prices.

    Crude oil fell for a second day on speculation that OPEC's member countries won't fulfill their pledges to cut production. Reduction in oil prices by the OPEC encouraged consumer related companies. It’s a big relief to the market to reach $58.81 a barrel from the record high $78.40. This fall in price may further make the markets jump.

    Consumer spending is boosting the US economy which accounts 70 percent. Gross Domestic Product report has shown the growth in the Consumer spending. All these positive signs are making the investors gain from their investments.