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Investing

Global Market Rally Into Holidays

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

The markets moved into Christmas weekend, seemingly without a care. Markets across Asia and Europe rallied despite concerns about eurozone sovereign debt and a global slowdown. The only cause for cheer is a deal to set temporary taxes and unemployment payments, finally set by Congress.

The Nikkei 225 was the only major index which did not move up. It was off .75% to 8,397. The Hang Seng was up 1.37% to 18,629. The Shanghai Composite moved up .85% to 2,310.

At the open in Europe, the FTSE 100 was up .69% to 5,495. The DAX advanced .73% to 5,896. The CAC 40 was higher by .92% to 3,101.

According to MarketWatch, resource and bank stocks rose. The former because economic conditions have moved up enough to stoke demand. The later because the bank crisis in the region has abated, at least for now

 

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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