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Reply #5: One could call this "Stock Speculating for Dummies" [View All]

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ozymandius Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-08-08 05:59 AM
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5. One could call this "Stock Speculating for Dummies"
Stocks surge as investors bet on consumer spending

NEW YORK (Reuters) Stocks jumped on Friday as investors bet that a steep drop in oil prices will boost consumer spending, lifting retail stocks and offsetting government data showing half a million jobs were lost in November.

Investors snapped up shares of discounter Wal-Mart (WMT.N) and iPod maker Apple Inc as oil slid below $41 a barrel to its lowest level in nearly four years and set aside early jitters stemming from a dismal November employment report.

....

"It means more discretionary spending for consumers, who are starting to feel better about themselves because they don't have to drop $100 every time they want to fill up their tank," said Angel Mata, managing director of listed trading at Stifel Nicolaus in Baltimore. "All of this is starting to feed together. That's what counting for this rally and for the strength we've had all this week."

http://news.yahoo.com/s/nm/20081206/bs_nm/us_markets_st...



Funny how one could correlate the relationship between historically high job losses, falling gasoline prices and increased spending on frivolous stuff.
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