U.S stocks gain momentum with Cypriot gust and factory order rustle – HUM, NDAQ, GS & HPQ

Boston, MA 04/03/2013 (wallstreetpr) – The winds of change are finally sweeping across Europe and factory orders in the U.S are topping projections. U.S stocks are also on the upswing taking the Standard & Poor’s 500 Index to a record closure of sorts. Medical insurers cheered the increase in the rate of Medicare payment which resulted in an increase in the healthcare provider performance as well and companies such as Humana Inc (NYSE:HUM) ( Current: 78.92, Down by 0.05%) got a 5.5 percent boost. Hertz Global Holdings, Inc (NYSE:HTZ) ( Current: $23.41, Up by 6.85%) topped analyst estimates by adding 6.9 percent. While some companies basked in the rising market sun, some others were not so lucky.

Change for the better
There was a dip of 13 percent in NASDAQ OMX Group, Inc (NASDAQ:NDAQ) (Current: $28.24, Up by 1.18%) soon after it agreed to buy the BGC Partners, Inc (NASDAQ:BGCP) ( Current: $5.72, down by : 0.09%) bond platform and Hewlett-Packard Company (NYSE:HPQ) (Current: $22.08, Down by 0.05%) dipped 5.2 percent even as Goldman Sachs Group, Inc (NYSE:GS) (Current: $145.81, down by 0.63%) advised selling HP shares. Though the market recovery is not a phenomenal one, it is one that is welcome. Tom Mangan, a money manager at the Xenia, Ohio-based James Investment Research Inc helps oversee funds worth around $4 billion, was of the opinion that the risk does not come from being in the stock market. On the contrary it comes from having very little stock.

U.S equities largely unaffected
The Standard & Poor’s 500 Index added 10 percent in the first quarter which effectually reflected a value- addition of $10 trillion to the largest stock market in the world. There was a distinct improvement in the demand of aircraft and motor vehicles with bookings gaining 3 percent which has been the highest over the past fie months. The economic shake-up in Cyprus followed by the rescue operation by the EU, the IMF and the European Central Bank has to a certain degree altered the way the U.S markets behaved. But from a larger perspective these or any kind of negative economic data are nothing more than dust-storms when it comes to the U.S equities.

The chief investment officer at Palisade Capital Management LLC, Dan Veru, said that at the end of the day this is what drives the stocks. In comparison to the rest of the countries on the globe the U.S economy is a stable one and is growing steadily though the volatility factor is one that cannot really be mitigated.

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Published by Pushpa Naresh

Pushpa Naresh has done MBA (Finance) and an avid market tracker. She is a technical analyst who closely tracks US markets along with other global markets like India. She has been expressing her views about markets and also advises various clients.

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