Stock Markets Rally on Strong U.S. Factory Data -- S&P Index Hits Two-Month High
July 05 2012 - 8:20AM
Marketwired
Stock markets rallied Tuesday after recent data showed factory
orders in May increased for the first time in three months. The
slight increase in factory orders came as a positive sign after a
trade group earlier this week reported U.S. manufacturing in June
contracted for the first time since the great recession ended. Five
Star Equities examines the outlook for companies in the S&P 500
Index and provides equity research on General Electric Co. (NYSE:
GE) and Kraft Foods Inc. (NASDAQ: KFT).
Access to the full company reports can be found at:
www.FiveStarEquities.com/GE www.FiveStarEquities.com/KFT
The S&P 500 Index reached a two-month high Tuesday on the
positive factory data and speculation that central banks around the
globe will take action to help stimulate economic growth. The help
with the region's debt crisis the European Central Bank is
forecasted to cut interest rates later this week. According to
Bloomberg Global Banking Group, BNP Paribas SA has stated that weak
U.S. jobs data later this week may motivate the Federal Reserve to
launch new stimulus measures.
"The factory orders report was a good surprise," said Richard
Sichel, chief investment officer at Philadelphia Trust Co., in a
recent telephone interview. "Investors are also finding comfort in
central bank action. The Fed has anticipated that they will do
whatever it takes to not let the economy slip, China is doing the
same and that the Europeans seem to be doing that too."
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As a result of falling panel prices General Electric has
recently halted construction of a thin-film solar factory in
Denver, which was set to become the biggest in the U.S. "Over the
past six months, the industry has shifted pretty rapidly," Danielle
Merfeld, General Electric's GM of solar technologies said. "We've
seen about a 50 percent price drop for modules over this period and
there's a lot of unabated overcapacity out there."
Kraft Foods last month reported that it will transfer its stock
exchange listing to The NASDAQ Global Select Market from the New
York Stock Exchange. The company began trading on the NASDAQ on
June 26, 2012. The company stated that the change "yield(s) greater
cost efficiencies, while providing visibility advantages for the
company's iconic brands."
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