{"id":582182,"date":"2010-05-27T16:00:00","date_gmt":"2010-05-27T20:00:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/closing-bell-may-27-2010-5"},"modified":"2010-05-27T16:00:00","modified_gmt":"2010-05-27T20:00:00","slug":"stocks-post-massive-comeback-heres-what-you-need-to-know-spy-gld-bp","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/582182","title":{"rendered":"Stocks Post MASSIVE Comeback: Here&#8217;s What You Need To Know (SPY, GLD, BP)"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/4bfecb917f8b9a8b3ff90300-299-224\/olympics-runners-sprinters-sprint-run-finnish-line.jpg\" border=\"0\" alt=\"olympics runners sprinters sprint run finnish line\" width=\"299\" height=\"224\" \/><\/p>\n<p>Today showed a HUGE reversal from yesterday&#8217;s miserable action, not just in US stocks, but in every key market around the world. US equities have now erased their losses for the week. Crazy.<\/p>\n<p>But first, the scoreboard:<\/p>\n<ul>\n<li>Dow: +286 (+2.8%)<\/li>\n<li>NASDAQ: +82 (3.7%!)<\/li>\n<li>S&amp;P 500: +35 (3.3%)<\/li>\n<\/ul>\n<p>And now for some key stories of the day:<\/p>\n<ul>\n<li>Things really seemed to hinge on the <a href=\"http:\/\/www.businessinsider.com\/heres-why-the-markets-surging-china-denies-the-nonsensical-rumor-about-it-dumping-eurozone-bonds-2010-5\">noise out of China<\/a> that it had no intention to diversify away from eurozone bond holdings &#8212; contradicting a report from <a href=\"http:\/\/www.ft.com\/cms\/s\/0\/7049ad6e-68ea-11df-910b-00144feab49a.html\">FT <\/a>yesterday. <a href=\"http:\/\/www.businessinsider.com\/sorry-but-the-story-about-china-dumping-eurozone-bonds-makes-no-sense-2010-5\">We argued<\/a> that the FT story never made any sense, so we&#8217;re inclined to believe China&#8217;s statements. If anything, it&#8217;s in the interest of Chinese leaders to prop up the euro, and save its own manufacturers&#8217; already razor-thin margins.<\/li>\n<\/ul>\n<ul>\n<li>Ironically, the only economic news today <a href=\"http:\/\/www.businessinsider.com\/markets-withstand-1-2-punch-from-gdp-and-jobless-claims-2010-5\">was bad:<\/a> GDP came in weaker than expected, and initial weekly jobless claims also confirmed the stalling out trned.<\/li>\n<\/ul>\n<ul>\n<li>It took more than a month, but <a href=\"http:\/\/www.businessinsider.com\/press-conference-disaster-obama-forced-to-side-with-bp-2010-5\">Barack Obama finally gave a press conference<\/a> on the Deepwater Horizon oil catastrophe. It did not go particularly well, as he was, in essence, forced to side with BP&#8217;s handling of the crisis &#8212; an awkward position, to say the least.<\/li>\n<\/ul>\n<ul>\n<li>Also on the BP front, the company spiked on news that the <a href=\"http:\/\/www.businessinsider.com\/bp-surging-pre-market-on-news-that-oil-has-stopped-leaking-2010-5\">oil leak has stopped<\/a>, BUT this is not the end of the story at all. Next stage is the cement pouring, and we have no guarantee yet it will work. But, at least we&#8217;re making some progress. Also, based on some estimates, the total leak now stands at <a href=\"http:\/\/www.businessinsider.com\/get-this-new-leak-estimate-is-666666666-barrels-2010-5\">666,666.666 barrels<\/a>, a very ominous number indeed.<\/li>\n<\/ul>\n<ul>\n<li>In addition to the surge in equities, just about every other &#8220;risk on&#8221; measure was positive, including a surge in the <a href=\"http:\/\/www.businessinsider.com\/aud-jpy-2010-5\">Aussie dollar<\/a>, a surge in industrial commodities, and a slight slip in gold (though not huge).<\/li>\n<\/ul>\n<p><a href=\"http:\/\/www.businessinsider.com\/closing-bell-may-27-2010-5#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/Jz13JmEaah8\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today showed a HUGE reversal from yesterday&#8217;s miserable action, not just in US stocks, but in every key market around the world. US equities have now erased their losses for the week. Crazy. But first, the scoreboard: Dow: +286 (+2.8%) NASDAQ: +82 (3.7%!) S&amp;P 500: +35 (3.3%) And now for some key stories of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-582182","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/582182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=582182"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/582182\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=582182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=582182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=582182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}