Wednesday, May 23, 2012

Stock Markets Bounce Back

The stock market is solidly higher today on the back of a weaker Dollar. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $127.47, +0.66 (+0.52%) while the PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading at $21.55, -0.08 (-0.39%). It looks like the July 4th holiday may already be taking hold as volume is light today well.

The rally is broad based today, with gains in the banks, commodities and technology. Apple Inc. (NASDAQ:AAPL) has regained its leadership in the last week as it is soaring again today, trading at $331.52, +5.17 (+1.58%). In addition, Amazon.com, Inc. (NASDAQ:AMZN) is also having a stellar day, trading at $199.80, +7.25 (+3.77%).

All eyes continue to be on Greece. This will make or break the markets in the next few days. An austerity vote is scheduled. Should this be passed, key aid will help Greece avoid default. As of today, the markets are slightly optimistic.

Gareth Soloway
InTheMoneyStocks.com



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InTheMoneyStocks.com is a research and consulting company focused on guiding investors, swing traders and day traders to financial success. Their Chief Market Strategists analyze the markets while making calls on everything from stocks to commodities and currencies. Their goal is to not only guide their subscribers but also teach them their proprietary methods leading them to become investing and trading masters.
Nicholas Santiago
Nicholas Santiago


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