By Thursday afternoon – 3pm Eastern – the Dow Jones industrials average had inclined a whopping 200 points after taking a beating in the previous session.
Stocks showing upward momentum include those in the financial sector and pharmaceutical industry. And the decliners in the session are fertilizer, and energy stocks – these have been rallying for some time now.
Taking my bets on MSN Caps, I have sold Potash, and Mosaic (fertilizers), and adding JP Morgan to my portfolio on positive reports seems to be paying off. Analysts are also upbeat on the pharma sector.
With crude and gold prices falling drastically, investors are beginning think that an increase in consumer spending may be good for the economy. Along with that, a decline in energy and food prices might also ease inflationary pressures.
"It’s the every-other-day theory — up one day, and down the next," Scott Brown, chief economist at Raymond James & Associates was quoted as saying by the Associated Press.
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