The stock market today was up again, after continuously rising over the last three weeks, with Monday adding to the S&P 500’s gains. This rise was because propositions made investors a bit more willing to make some risky investments, and Caterpillar made strong gains.
After recent news about corporate incomes, reports about the economic status of the United States, and a solution seen on the horizon for Europe’s debt crisis and struggling banks have all lessened the fear of another recession in the United States.
Part of this week’s gain was due to Caterpillar Inc., which reported a profit this quarter much higher than expected. Andrew Bodner made a statements speaking on Caterpillar’s earnings. He said when a big company such as this reports such great earnings it can soften the whispers of a recession.
As of October 3, the S&P 500 had consistently risen up to 14%, and is now reaching the max it can while there is still turmoil in European markets. Investors hope to see some good news in European markets so that equities here can rise more, but speculation shows this may not be any time soon as investors in Europe are still very cautious.
Almost three billion stocks today were being traded over the market, making this a bit of a lighter day. Europe is stalling on making a decision regarding their debt crisis, but will be meeting on Wednesday in order to discuss a strategy for bank capitalization and creating a rescue fund to ease the struggling market.Previous Post » 3M, Bank of America and Alcoa among Top Falling Dow Jones Components