Markets closed up HUGE on Wall Street: DJI +2.54% SP500 +2.95% Nasdaq +2.97% Gold -0.28%
The markets were up because:
- Manufacturing in China and GDP in Australia beat expectations. Markets opened with a huge gap up and never looked back. So, as of the moment, in the Battle of SP500 1040 the bulls are leading the bears 5-1 >
- US Manufacturing came in much better than expected. The August ISM Manufacturing Index rose to 56.3 versus expectations for 52.5. See why improving fundamentals at Joy Global (JOYG) may mean the stock is worth buying >
- Lehman Brothers executives got flogged on Capital Hill. Former CEO Dick Fuld stopped playing “Where’s Waldo?” and showed his lying grill to the country. Don’t Miss: Lehman Brothers CEO Dick Fuld Blames Us for Bankruptcy. What is Capitalism without Self-Responsibility?