Another Good Day on Wall Street After More Good Economic News!

[The Finman]

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<h2><font color=#003399>Nasdaq Closes at 20-Month High on Motorola Surprise</font></h2>
NEW YORK — The Nasdaq closed at its highest level in more than 20 months and the Dow and S&P also notched their highest closes since June 2002 after surprisingly rosy results from Motorola Inc. (MOT) reinforced investors' faith in corporate America's strength.


The blue-chip Dow Jones industrial average (search) ended up 89.70 points, or 0.93 percent, at 9,764.38, while the technology-laced Nasdaq Composite Index (search) rose 18.22 points, or 0.95 percent, to 1,933.53. The broader Standard & Poor's 500 Index (search) was up 7.29 points, or 0.70 percent, at 1,045.35.

Optimism about the earnings period has helped propel the market sharply higher this month, and investors are waiting for a rush of reports due in the next three weeks to see if Wall Street's recent gains are justified.

So far, investors seem to like what they see.

"We've had a little over forty names in the S&P 500 report and profits have been stellar, to say the least," said Francis Gannon, senior portfolio manager at AIG SunAmerica Asset Management. "Now, the market's waiting for what's going to happen the rest of this week."


Full Article <font color="red"><u>Here</u></font>

[The Finman]

Now see Taxman if we keep having days like this, I might make prediction. [img]graemlins/popcorn.gif[/img]

[Taxman]

Love that pic!

The thing is that once the general media starts hyping it, the floor is about to drop with profit taking...

I guess I'm just a bear at heart! [img]graemlins/Laughing.gif[/img]