Ini ciri-ciri kuat bottoming..., pada level-level tertentu, orang akan mulai
BORONG.., semalem DOW naik kuenceng karena memang sdh MURAH, BUKAN karena
ada issue yg luar biasa. We know and they know the problem is not over yet,
tapi karena harga sdh murah, DEMAND meningkat kuat.
Unless ada something really big, saya rasa DOW sdh bottom. Semoga.
JsxTrader
US STOCKS-Bargain hunters lift Dow 553 points, S&P up 7 pct
14 Nopember 2008 5:39:27 (GMT+07:00)
Provided by: Reuters News
* Bargain hunters rush back in and drive recovery
* Energy shares lead gains, financials cut losses
* Economic worries persist after worrying outlooks
* Dow up 6.7 pct, S&P up 6.9 pct, Nasdaq up 6.5 pct
* For up-to-the-minute market news, please click on
By Leah Schnurr
NEW YORK, Nov 13 (Reuters) - U.S. stocks surged on Thursday and broke a
three-day losing streak after the S&P 500 and Nasdaq touched new five-year
lows earlier in the session, prompting investors to put aside worries about
the flagging economy and scoop up wilted shares at fire-sale prices.
Capping off a volatile session, energy stocks led the market higher
alongside a recovery in oil prices <CLc1> as OPEC looked ready to cut
production again. Chevron <CVX.N> and Exxon Mobil <XOM.N> gave the Dow its
biggest lift, while oil rose over 5 percent above $59 a barrel in
post-settlement trading.
But analysts said news about the economy was still grim, after Intel Corp
<INTC.O> slashed its revenue outlook, underscoring concerns that the ailing
global economy is hurting technology spending by businesses and consumers.
At one point during Thursday's session, the S&P 500 fell below its Oct. 10
closing low to its lowest since March 2003,
a key technical breach that traders said suggested the market could find
short-term support. The Dow industrials briefly fell below 8,000, while both
the S&P 500 and Nasdaq fell through their 2008 lows set in October.
"The fundamental news right now is just dreadful," said Phil Orlando, chief
equity market strategist at Federated Investors in New York, adding that the
market "ended up blowing through the support level we thought we had
established at the bottom of the market on Oct. 10."
Orlando said there was nothing fundamental to account for the afternoon
surge, noting that "technically, some folks thought they needed to put money
to work."
The Dow Jones industrial average <.DJI> jumped 552.59 points, or 6.67
percent, to 8,835.25. The Standard & Poor's 500 Index <.SPX> surged 58.99
points, or 6.92 percent, to 911.29. The Nasdaq Composite Index <.IXIC>
climbed 97.49 points, or 6.50 percent, to 1,596.70.
The three major U.S. indexes swung in a wide band from high to low, with the
S&P 500 traveling 94.32 points from its session low at 818.69 to intraday
peak at 913.01, while the Dow industrials covered 911.17 points and the
Nasdaq moved 168.16 points.
Chevron jumped 12.5 percent to $75.71, while Exxon rose 9.4 percent to
$75.41. An S&P index of energy companies <.GSPE> soared 11.1 percent.
Intel reversed an earlier decline and rose 6.7 percent to close at $14.43 on
the Nasdaq, spurring other big-cap technology shares to shift gears and push
higher.
After Wednesday's closing bell, Intel cut its revenue outlook, citing weak
demand globally.
Among gainers, Microsoft <MSFT.O> rose 4.7 percent to $21.25, while Apple
<AAPL.O> gained 7 percent to $96.44.
Citigroup Inc <C.N> pared earlier losses, but remained the biggest drag on
the Dow, losing 2 percent to $9.45, after a report that directors are
unhappy with the bank's performance and may replace its chairman. Citi's
board of directors reiterated its full support for Chairman Win Bischoff.
General Motors <GM.N> fell 4.2 percent to $2.95 after Goldman Sachs
suspended its rating and said the ailing automaker needs at least $22
billion in federal aid.
Wal-Mart Stores Inc <WMT.N> gained 4.4 percent to finish at $54.93, after
moving between negative and positive territory throughout the session.
Wal-Mart, the world's biggest retailer and a Dow component, reported a
slightly better-than-expected rise in quarterly profit, but lowered its
full-year outlook.
Adding to the negative outlook on the economy, a government report showed
the number of people filing new claims for jobless benefits in the latest
week shot to the highest in seven years, since the weeks after the Sept. 11
attacks in 2001.
Trading was active on the New York Stock Exchange, with about 1.99 billion
shares changing hands, slightly above last year's estimated daily average of
roughly 1.90 billion. It was the heaviest volume in four weeks. On Nasdaq,
about 3.01 billion shares traded, above last year's daily average of 2.17
billion.
Advancing stocks outnumbered declining ones on both the NYSE and the Nasdaq
by a ratio of more than 2 to 1.
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