Dow Jones closes 93 points higher at 12,554 on President Barack Obama comments

[bigtree]

U.S. equity markets rallied Friday afternoon after President Barack Obama urged Europe to move to combat its economic crisis and a media report said Spain would seek help for its banks.

By the close the Dow Jones jumped 93 points to 12,554, while the NASDAQ rallied 27 points to 2858.

President Barack Obama on Friday took a more strident tone with Europe, urging the region’s leaders to aid the troubled banking sector and warning of the fallout if Greece were to leave the euro zone.

Europe must stabilize its financial system and inject capital into weak banks as soon as possible and European leaders must also show a political commitment to a stronger euro zone and fiscal integration, Obama said.


read: http://www.proactiveinvestors.com.au/companies/news/29937/dow-jones-closes-93-points-higher-at-12554-on-president-barack-obama-comments-29937.html

[Generic Other]

1. The opposite of Bush's piehole effect, I guess

I really don't know how to read anything that Wall Street does where Obama is concerned.

[former9thward]

2. The dow goes up and down based on the investment decisons of tens of millions of buyers/sellers.

How anyone can claim to know what is in the minds of tens of millions of people on any specific day I don't know. And that does not even count computers that buy and sell based on programming.

[bigtree]

3. that's what I'd likely say if it had gone down

but it didn't.

[Warpy]

4. It probably would have been that high yesterday

had Bernanke managed to keep his trap shut. Instead, the market closed out the week up because he kept it zipped today.

[tralala]

5. I thought most stock trading is done by computers?

[girl gone mad]

6. I'll say now what I said 3 years ago.

Obama needs to butt out and let Greece do what is best for Greece. Obama urged Merkel to approve the initial bailout of Greece in 2009... look where that has gotten Greece (and Europe). Enough already. The banksters have taken more than enough. No more Troika bankster bailouts.