Newspaper article THE JOURNAL RECORD

Good Signs Propel Stocks

Newspaper article THE JOURNAL RECORD

Good Signs Propel Stocks

Article excerpt

Wall Street continued its upward climb last week, and as the trading session ended Friday, indications supported the slow and steady approach the economy has taken. The Conference Board said its index of leading economic indicators, which forecasts trends up to six months out, was up 0.6 percent in April to 95, after a drop of 0.2 percent in March. The Thomson Reuters/University of Michigan survey of consumer confidence rose to 83.7, the highest level in almost six years. A Federal Reserve report showing a slowdown in manufacturing in the U.S. caused a blip in the rally, but investors soon shrugged that off. However, jobless claims jumped at the highest rate since November and housing starts dropped. Gold continued to fall, but oil showed strength on hopes of the improving economy, and the national indices claimed new highs during the week.

"This slow but relatively steady growth (of the economy), that keeps inflation in check and keeps interest rates low, is actually a pretty healthy environment for the stock market," said Liz Ann Sonders, chief investment strategist at Charles Schwab & Co. "Right now we are very optimistic."

The Journal Record Index closed at a new record last week, adding 20.99 points, or 1.36 percent, ending at 1,560. …

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