Global market madness opening week
Dow Jones pulls the global markets on continued efforts from the Obama adminsistration to boost the American economy. The Dow closed at over 7700 on Monday, swelling a impressive 6.8% during the day. Wall Street saw Monday rally frenzy on all markets.
Asian stock markets followed with respectable gains but the positive wave seems to have halted with Europe showing a mixed bag and lacking fortitude. The poor Iceland Reykjavik ticker ICEX15 is at -11%. Moscow and FTSE100 are also down a bit. Once the Dow goes live we may well see a turnaround.
The Explosive Rally builds on last weeks strength and the new US attack plan of inecting steroids into the markets by assimilating the toxic bank waste. Never mind if the plan is good or bad – time will tell – but while the financial market responds with vigour the global economy is still receding. The current numbers are a game of their own and are another example of the ever faster turns as fundamentals dwindle and the game responds to short-term political effects.
The Banks may be rejuvenated and open their purses again but the global market is not healthy at the moment. Rollercoaster week. Time for puts anyone?
Comparing to last week when we posted about Continued Dow rally – March 12 we are now back under this level.
Related posts:
- Weak Dow opening on mixed global markets?
- Do or die for Wall Street this week
- Mixed global market signs
- Dow and global market drop expected.
- Japan economy on comeback course
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