Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Can you beat 50% per month? -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (13270)	3/5/2008 8:47:04 PM
From: Peter V	Read Replies (1) \| Respond to of 19257

S&P futures are up 200, Nikkei is up over 1%, but it's early and anything can happen. I don't know how they figure that recession fears are easing, if anything today's news is worse than ever! Japan stocks up as U.S. fears ease, yen stabilises Wed Mar 5, 2008 8:02pm EST (Updates to midmorning) TOKYO, March 6 (Reuters) - Japan's Nikkei average rose 0.9 percent on Thursday after hitting a six-week closing low the previous day, boosted by exporters such as Honda Motor Co Ltd (7267.T: Quote, Profile, Research) on easing concerns about a U.S. recession and a stabilising yen. Resource-related shares such as Sumitomo Metal Mining Co Ltd (5713.T: Quote, Profile, Research) also gained on a jump in metal prices, while Inpex Holdings Inc (1605.T: Quote, Profile, Research), Japan's top oil and gas developer, advanced on record oil prices. "Investors are encouraged by the better-than-expected U.S. economic data and calmer currency moves, with the yen trading at around 104 yen against the dollar," said Zenshiro Mizuno, senior managing director of the equity trading division at Marusan Securities. "But gains are limited as investors are trying to decide if now is the time to buy or they should wait for another possible spike-down, though the market is generally moving on expectations that the global economy, including the United States, will likely recover later this year." Mizuno said concerns about the earnings outlooks for Japanese companies are also putting a lid on market gains as the currency levels would determine their direction. Japanese companies had set their assumed currency level at around 105 yen to the dollar for the year, and the stronger level sparks concerns about earnings outlooks. As of 0042 GMT, the benchmark Nikkei average .N225 was up 119.35 points at 13,091.41 after logging its lowest close since Jan. 23 on Wednesday. The broader TOPIX index added 1 percent or 12.41 points to 1,276.32. U.S. stocks rose on Wednesday as data suggesting the services sector may not be as weak as feared allayed investors' concerns about a recession. The dollar was trading at around 103.90 yen <JPY=> after climbing to session peaks of 104.18 in New York. The dollar logged a three-year low of 102.6 yen on Monday. Shares of Honda rose 2 percent to 3,130 yen, Canon Inc (7751.T: Quote, Profile, Research) added 0.9 percent to 4,580 yen and industrial robot maker Fanuc Ltd (6954.T: Quote, Profile, Research) climbed 0.9 percent to 9,390 yen. Inpex climbed 3.4 percent to 1.21 million yen after oil rallied $5 to a record near $105 a barrel on Wednesday. Gold and copper producer Sumitomo Metal Mining jumped 3.3 percent to 2,220 yen after gold set a historic high near $1,000 an ounce on Wednesday as rising energy prices increased gold's appeal as a hedge against inflation.