Sunday, February 3, 2013

Best January In Years As Investors Eager For Stocks

This is best January in decades as investors eager for stocks. For the Dow at least, January has been the best start to the year in two decades.

The Dow Jones Industrial closed the month up by 5.8 percent, which has been its strongest close since January 1994 as per S&P Capital IQ data. The Standard & Poor’s 500, ended the month 5 percent higher, which is its best start since 1997.

The editor of the Stock Trader's Almanac, Jeff Hirsch, pointed out that the market is likely to struggle to gain further in February.

One of the major reasons why January experienced a major flow of stock funds, in close to nine years, is because majority of investors put money into equities.

Yesterday, as investors read more about earnings results and reports on the economy, the stocks drifted towards the lower side.

The Dow Jones industrial dropped to 13,860.58 about 50 points down, the S&P 5000 to 1,498.11 about 4 points down and the Nasdaq composite remained constant at 3,142.13.

The Dow is 304 points from its highest point.

Investors also received reports from the government about how the number of unemployed Americans seeking aid sharply rose within the last week. This number however, remained constant with moderate hiring.

Investors eager for stocks will also look into the strength of the job market once the non-farm payrolls report is circulated.

No comments:

Post a Comment

Amazon Deals

Search This Blog

Infolinks In Text Ads