Go Finance Reporting in NEW YORK - The stock market rose despite thin. It is considered only temporary because of fears of economic slowdown are threatening.
S & P 500 rose for the second time in nine trading sessions, while the Nasdaq 100 managed to survive falls below the average of 200 days in 2218. Investors seemed still flat despite the prices of some stocks have become cheap enough after six weeks of stock market experienced selling pressure.
"If we do not get great information about the economy out of trouble, or the emergence of other things that help determine our trading decisions will still be the same market conditions over the coming weeks," said vice president Cuttone & Co. Keith Bliss was quoted as saying by Reuters on New York.
Evidence of weak global economic recovery has pushed the S & P 500 dropped from 6.6 per cent from its highest position in early May. Some analysts even said that this index will be corrected to 10 percent.
At the same time, transactions that occur between the insurer and communication technology sector showed an attractive valuation. Among them, the Allied World Assurance Co. Holdings Ltd. agreed to buy Transatlantic Holdings Inc. for $ 3, 2 billion.
Transatlantic shares jumped 9.5 percent to $ 48, 19, while Allied fell by 4.5 percent to USD55, 44.
VF Corp., owner of the North Face brand buy Timberland Co. is known for its hiking boots, amounting to $ 2 billion to boost sales of outdoor equipment, which is the largest business. VF Corp. rose 10 percent to USD101, 01 and Timberland jumped 44 percent to USD43, 20.
At the end of the close of trading on Monday (06/13/2011), the Dow Jones Industrial rose 1.06 points, or 0.01 percent, to 11952.97. Standard & Poor's 500 index rose 0.85 points, or 0.07 percent to 1271.83. But the Nasdaq Composite Index dropped 4.04 points, or 0.15 percent, to 2639.69. (GoFinance)
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