Market Update (Yahoo Finance)
In afternoon trading Wednesday, the Dow up 85 points, the tech-laden NASDAQ up 22 points and the S&P 500 index is up 9 points; not too bad for the way things were going at this time yesterday.
Turning to world markets, Asian markets took a hit earlier today with most indexes down a percent or more.
In Europe, the FTSE100 closed up 0.40, the CAC40 in France spiked up 0.84 percent, while the Xetra DAX in Frankfurt was up 0.12 percent.
Stocks are afloat in positive territory but sellers are still making their presence known with stocks in the Financial and Health sectors revisiting lows during the New York lunch hour.
On a humorous note, Daniel Clement in the New York Divorce Report cites the New York Times and the New York Magazine as stating that the bearish stock market is bullish on divorce. What does that mean?
It means what it means.
The uncertainty in financial markets could signal the right time for a divorce, if you’re planning one.
Wealthy clients are being advised to plan their divorce now to cut losses on payouts coming to them. Ha!
That would mean that this works in favor of the spouse who is expecting child support or alimony; also a factor in the “mercenary theory” is a declining income of the other spouse in the immediate future.
Hence, since support payments rely on income, those need to be fixed before that income is slashed.
However, contrary to what the periodicals say, Clement notes that in New York assets are distributed equally (as in 50-50).
I don’t about you, but I’d much rather take my chances in stocks!