|
|
Published June 24, 2009 09:52 am -
Stocks rise after strong durable goods reading
NEW YORK (AP) — A jump in durable goods orders is giving stocks a boost before the Federal Reserve’s decision on interest rates.
The stock market got a welcome surprise on Wednesday when the Commerce Department said orders for big-ticket manufactured items rose 1.8 percent in May. Economists surveyed by Thomson Reuters had anticipated a decline of 0.6 percent.
The market could be in for a volatile day, however, with the Fed scheduled to release its rate decision and assessment of the economy in the afternoon. The central bank is widely expected to leave its key rate unchanged at a range of zero to 0.25 percent, but investors are less sure about its outlook for the economy.
Recent gauges of the economy have been improving, but they have not yet pointed to actual growth. Many investors are nervous that a recovery could be hampered if the Fed hikes interest rates too soon or starts dismantling its emergency supports for the financial system.
“It’s pretty obvious that the Fed has a delicate tightrope to walk here,” said Craig Peckham, market strategist at Jefferies & Co. He said policy makers must acknowledge the long-term potential for inflation, but at the same time calm investors’ worries about any near-term removal of liquidity from the system.
“You’ll see this statement dissected more closely than anything we’ve seen in last couple of meetings,” Peckham said.
Investors, many of whom have placed bets over the past several months on a late-year economic recovery, are on edge as the second half of 2009 approaches. The Dow Jones industrial average is up 27.1 percent from the 12-year lows reached March 9, but the index has fallen 5.4 percent since June 12.
In early trading, the Dow rose 54.49, or 0.7 percent, to 8,377.40. The Standard & Poor’s 500 index rose 6.93, or 0.8 percent, to 902.03, and the Nasdaq composite index rose 21.58, or 1.2 percent, to 1,786.50.
•
Click to discuss this story with other readers on our forums.
|
|
Announcements



: Special Offer For New Subscribers
:


 |
|
|
|
1997 OLDSMOBILE 88
runs good, $1900. 417-850-0731....>MORE
2001 FORD WINDSTAR SE
Sport, loaded, all options, great looking van, extra nice, $3200. 1317 Schifferdecker, Joplin....>MORE
HONDA 2001 CIVIC EX
HONDA, 2001 Civic EX, 4 door, automatic, 94,000 miles, $5800; 1998 Accord, 4 door, $4200; 1999 Honda Prelude, automatic...>MORE
OLDSMOBILE 2003 SILHOUETTE VAN
OLDSMOBILE, 2003 Silhouette mini van, 107,000 miles, scooter/wheelchair hoist, nice, $7000. (417)776-3219....>MORE
TOYOTA 2004 TACOMA PRERUNNER
Toyota, 2004 Tacoma Prerunner, TRD off road, double cab, V6, new tires, CD, bed liner, lid cover, 100,000 miles, excelle...>MORE
2002 KIA OPTIMA EX
4 door, sharp, loaded, leather, CD, sunroof, extra nice, $3200. 1317 Schifferdecker, Joplin....>MORE
JEEP 2000 CHEROKEE SPORT
JEEP, 2000 Cherokee Sport, 6 1/2” lift, 35” foggers, locked front end, welded rear end, off road use, winch not included...>MORE
1993 CHEVROLET LONG BED
runs good, 4.3 V6, new transmission, needs body parts, $400. (417)438-2508...>MORE
1989 CHEVROLET STEPSIDE
350, V8, custom flames, runs great, $2500. 417-208-6717...>MORE
2002 BUICK RENDEZVOUS
4 door, luxury leather trim, loaded, CD, sunroof, beautiful rig, extra nice, $4500. 1317 Schifferdecker...>MORE
See all ads |
|
Deerfield Estates
in Carl Junction, prime building sites, reduced $10,000 each. 417-825-0052...>MORE
NEWER 3 BR/2 BA
Lots of upgrades and great location. $149,000 but all offers considered. 903 Katlin, Carl Junction. Pictures www.fsboloc...>MORE
See all ads |
|
POODLES
POODLES, standard pups, born 10/10, registered, shots, wormed, family raised. Adorable personalities! 417-673-3892....>MORE
(2) TEACUP CHIHUAHUA
APRI puppies. (417)673-1997....>MORE
5TH WHEEL
5TH WHEEL, 2004 Prowler Regal, 26’, 2 slides, loaded, nice. (620)674-2127....>MORE
REWARD $50,000 REWARD
Offered for any information leading to conviction of any person or persons known to have been involved in alleged ...>MORE
NEW IN BOX
New in box, Lucchese cowboy boots, black, size 9D, $200. (620)231-9256...>MORE
MALTESE PUPPIES ADORABLE!!
6 weeks old Thanksgiving. 2 boys and 2 girls. Shots, wormed, and vet checked. Healthy, active, and loved! Great Ch...>MORE
DIAMOND SOLITAIRE
Pear-shaped, one carat, diamond solitaire in gold setting. $2,000. Please call 417-825-3238...>MORE
INDIAN HEAD PENNIES
INDIAN HEAD PENNIES, 35% Civil War II nickels, V nickels, Buffalo nickels, lots of other coins. Garage full of antiques ...>MORE
ENGLISH BULLDOG PUPPY
male, AKC, fawn/white, champion bloodlines, $900 or best offer. (417)396-3340...>MORE
ANGUS HEIFERS
6 Augus heifers, good foundation stock. (417)358-7519...>MORE
See all ads |
|
 |
|