Facebook stock jumped from $38 to as high as $45 in the opening … But small investors, mistrustful of the market, are still pulling money out of stocks.
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Stocks Higher on Wall Street
Positive economic data spurs a rise in the stock indexes
Stocks rose on Thursday December 22nd putting the Standard & Poor’s 500-stock index on the cusp of finishing out the year higher as another decline in jobless claims pointed to further improvement in the labor market.
Stock Market Sees Best Month In Nearly A Decade, After Big Drop
Stocks had their best month in almost a decade, rising from their low point of the year in an almost uninterrupted four-week rally. The juice mostly came from Europe, which appeared to finally find a strategy for taming its debt crisis.
South Korea and Indonesia move on currencies
The Bank of Korea has become the latest central bank to step into the money markets in a bid to stabilise its currency.
The Korean won has declined by 10% against the US dollar in the past month, and the bank said it was taking appropriate steps to stem the falls.
The move follows a similar action by the Indonesian central bank on Thursday to shore up the rupiah.
$2.8 trillion lost in market turmoil so far
If stock market gyrations make you queasy, you may not want to read on.
The Wilshire 5000 Total Market Index has lost $2.8 trillion in value since the stock market slide began on July 22. Some $600 billion of that went up in smoke on Wednesday, when the index and the Dow Jones Industrial Average both dropped about 520 points.
Not surprisingly, the stock market’s wild swings in recent weeks have sent investors and retirees scurrying to their financial advisors for some hand holding. The main message they’re hearing: Stay put.
“Try to take a step back from the day-to-day,” said Chris Philips, senior investment analyst with Vanguard. “Reacting to these ups and downs and sideways swings can actually do more harm than good for most investors.”