World stock markets are soaring (BBC News)

(not sure what's really going on.)
Thursday, 15 June 2006, 23:08 GMT 00:08 UK

World stock markets are soaring

World stock markets have posted strong gains on Thursday, with the Dow Jones index surging past 11,000 points.
(The article and more links are below the charts)

BBC Global 30
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/overview/img/29954+bbc-thumbnail_thick-line+intraday.png
Cac 40 15 min delay
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/img/1+bbc-thumbnail_thick-line+intraday.png
Dax 15 min delay
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/img/18+bbc-thumbnail_thick-line+intraday.png
FTSE 100 15 min delay
http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/overview/img/3+bbc-thumbnail_thick-line+intraday.png
Wall Street's benchmark, the Dow, was up 1,8%, as the technology-heavy Nasdaq index rose 2.8% after the US central bank boss quashed inflation fears. The day's biggest winner was India's BSE index, which shook off the hefty losses of past weeks to gain 6.9%.

Europe's main indexes, London's FTSE 100, Frankfurt's Dax and Paris' Cac 40 all added more than 2%. The only major market posting losses was Sri Lanka, as tensions between the government and Tamil rebels increased.

Wall Street sets the pace

Wall Street's rally had been fuelled by comments from US central bank chairman Ben Bernanke, who had warned that high energy prices would be "long lasting", but calmed nerves by predicting that the knock-on impact of such increases would be limited.

"When inflation expectations are anchored... the monetary response can be more limited," Mr Bernanke said. High inflation usually results in higher interest rates, which in turn tends to depress stock markets.

(More at link)

<http://news.bbc.co.uk/2/hi/business/5085614.stm>

More market data at links below: <http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/overview/default.stm>

<http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/default.stm>

we have markets that are based purely on speculation. Nothing less than the internet bubble in 2000. Hype 24/7. Glorified gambling, greed and stupidity.

For a few days, market prices were declining quickly everywhere, with the traders listening to each other's doom and gloom. Then, one speech giving an opinion has snapped them out of it. The worrying thing is that many people's pensions depend on the stock market. We just have to hope they get it right in the long run.

to paraphrase, "they've turned the entire country into one big casino". Isn't it the truth and like ANY casino the house ALWAYS wins. Investing used to be a long term strategy, it was about building something, adding value. Now it's nothing more than a craps table. The main purpose of the Stock Market now is to redistribute the wealth. The rich want it all and their rigged game will assure that sooner or later, they'll have it all.

really have influence on a daily basis. They wait for no one and the internet makes it possible.

my 401K and IRA have been dwindling lately.

<http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/default.stm>

<http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/default.stm>

Massive, arbitrary movements in markets all over the world. I don't see this as a good sign.

since Bush made a deal with them to get Zarqawi and the market is responding to the sudden lifting of tensions.

and getting away with it.

AKA profit-taking. Market goes up quickly, folks get some money and go.

I will note that most of those chart show a decided downward trend at the time of this post.

...but it looks like most ended up in the red. Crazy. :crazy:

<http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/default.stm>

The stock market is supposed to be for companies selling a say in the business and a share of the profits in exchange for capital. Today it is full of people who only care if the stock price goes up, this discourages long-term thinking and encourages book-cooking.

...at the charts, all those markets moved up 200-400 points in the first hour, then started selling off at a slightly slower pace.

to human nature. Almost as if someone were trying to manipulate the market. Must get sleep, conspiracy theories taking over. :)

It looks like somebody made alot of money at someone else's expense.