Chart 1: Small Cap Stocks Total Return Index (SCSTRI) and Z Scores of Secular Trends
Chart 2: Large Cap Stocks Total Return Index (LCSTRI) and Z Scores of Secular Trends
Headline: Wall Street climbs as economy fears ease
NEW YORK (Reuters) - Stocks rallied on Tuesday and the Dow hit its highest level since December 2007, after data showed the manufacturing sector expanded at a faster pace than expected in April, easing jitters about a slowdown in the economic recovery. With most markets in Europe and several major Asian markets closed for the May Day holiday, investors shifted their attention to U.S. economic data. Data from the Institute for Supply Management showed growth in U.S. manufacturing improved, coming in at its strongest rate in 10 months in April. That reading suggested the economy remains resilient after indications it had lost momentum at the start of the second quarter. "Good numbers came out today on the manufacturing side that took some people by surprise," said Amy Wu, equity derivatives strategist at RBC. But she noted that some European markets are closed for May Day while many Asian markets are closed during Golden week so the entire market hasn't had the time to react to today's numbers. She added "that's why, while some indexes have reached new highs, the market is quiet somewhat."Source: finance.yahoo.com
-------------------------------------
Insights is intended to reflect excellence in effort and content. Donations will help maintain this goal and defray the operational costs. Paypal, a leading provider of secure online money transfers, will handle the donations.Thank you for your contribution
