Forum Post: Great day for the market today!!!!
Posted 13 years ago on Oct. 14, 2011, 9:46 a.m. EST by Yachtmaster
(4)
This content is user submitted and not an official statement
DOW has opened up over 120 points. Of course you kids know nothing about how Wall Street or the market actually works, but here you go:
"Financial bookmakers are currently expecting US stocks to open higher on the back of gains in European markets and yesterday’s better than expected earnings report from Google (NYSE:GOOG).
Futures for the Dow Jones Industrial Average (DJIA) were up 125 points (1.1 percent, while futures for the broader S&P 500 index climbed 13.5 points (1.1 percent).
Google said its income in the third quarter jumped 26 percent compared to the same period of 2010 to US$2.7 billion as revenues were up 33 percent to US$9.7 billion. The report, which was released after market close yesterday, led to a 6 percent bounce in Google’s shares."
I understand full well the nature of the stock market.
At the end of the day, outside of the initial IPO, it's legalized gambling. The futures market used to serve a purpose other than speculation.
I'm not advocating for it to be removed, but it really serves no real purpose.
Thanks, was really interested in how the market started today, being that it has been very consistent over the last several months... Just wait until a new report comes out on the European sovereign debt that will send it negative by day end.