Steve Jobs Passes Away |
Today, Steve Jobs passed away at age 56 after a six-year battle with a rare form of cancer. He dedicated what was left of his life and health to that which he will be remembered for forever. “Steve’s brilliancy, passion, and energy were the source of countless innovations which enriched and improved each of our lives,” said a statement released by Apple. “The world is immeasurably better because of Steve.” The entire DT Trading Limited team expresses their deep sympathies to the friends and family of the genius inventor and one of the world’s greatest managers. When the company reported the death of its founder and inspirer, the markets in New York were already closed for the day.
Yesterday, shares of American companies rose in unison for the first time in a long time: the Standard & Poor’s 500 Index demonstrated the largest two-day growth in over a month. The economic data that came out on Wednesday contributed to such high growth – the data not only exceeded expectations, but also investors’ assumptions about actions being taken in the Euro zone to contain the region’s debt crisis. Shares of Alcoa Inc (AA) and Cisco Systems Inc (CSCO) rose all of 2.7%, leading the growth among those companies most linked to the economy. Shares of financial companies also rose after shares of Morgan Stanley shot up 3.4%. Shares of Monsanto Co (MON) rose 5.2% after the seed production company released a forecast of higher than expected revenue growth. Shares in the company Yahoo! Inc rose 10% to the highest level since 2008 after it was reported that the company may merge with Microsoft corporation (MSFT). Shares of Apple Inc (AAPL) rose 1.5%, thereby averting what could have been the longest drop since 1998. However, DT Trading economists believe that they will still break this anti-record at the opening of trading in New York today.
The S&P 500 added 1.8%, reaching 1,144.03 at the close of trading in New York and achieving a 4.1% two-day growth. The Dow Jones Industrial Average Index rose 131.24 points, or 1.2%, to 10,939.95 points.
Today, we will learn more about the European Central Bank’s decision on the rescue plan and on the course the region’s monetary policy will take. DT Trading analysts expect that, during his last meeting as ECB President, Jean-Claude Trichet might get an offered to keep the authority in his hands and steer the ECB ship into uncharted waters. Even if Trichet steps down, a Greek default still seems inevitable. Trichet’s figure in many ways embodied the sentiment of the region; it is difficult to imagine a more authoritative figure in the Euro zone’s financial leadership, and it is still possible that he might decide to stay.
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