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inthemoneystock (< 20)

Stock Markets Bounce Back



June 27, 2011 – Comments (1) | RELATED TICKERS: SPY , UUP , AMZN

The stock market is solidly higher today on the back of a weaker Dollar. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $127.47, +0.66 (+0.52%) while the PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading at $21.55, -0.08 (-0.39%). It looks like the July 4th holiday may already be taking hold as volume is light today well.

The rally is broad based today, with gains in the banks, commodities and technology. Apple Inc. (NASDAQ:AAPL) has regained its leadership in the last week as it is soaring again today, trading at $331.52, +5.17 (+1.58%). In addition,, Inc. (NASDAQ:AMZN) is also having a stellar day, trading at $199.80, +7.25 (+3.77%).

All eyes continue to be on Greece. This will make or break the markets in the next few days. An austerity vote is scheduled. Should this be passed, key aid will help Greece avoid default. As of today, the markets are slightly optimistic.

Gareth Soloway

1 Comments – Post Your Own

#1) On June 27, 2011 at 12:24 PM, 123spot (< 20) wrote:

Gareth, personally I'm selling a few gains into what I see as EOM and EOQ tape painting in the face of dire macro picture. I guess I will look back to see if this was folly. Thanks for your post. I rec and follow. Spot

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