The market will most probably end its trading session on 27 August, 2008 with a rally as more investors are going in to buy stocks which had already been seriously sold down last week in light of the credit worries due to the good news of better-than-expected durable goods economic data released just earlier. This could probably obliterate the fact that light, sweet crude price took a climb. It is, therefore, fair to speculate that a substantial broad market recovery on this trading session can be expected.
It was a very clear indication and assurance to the investors in relation to consumer spending which is the ulitmate cure for the current stuttering economy. Stocks like Borders Group Inc and Talbots Inc rose significantly on this session which may see more buying up on the stocks falling into the same sector like Chico’s FAS Inc.
Price incliner outbeat decliners by a ration of 3:1 on the NYSE, Wall Street. Based on the market sentiment, the market will most likely to experience a rally fueled by the upbeat sentiment of investors.
The above are of personal opinion and not at all an inducement to trade.