{"id":284591,"date":"2011-02-28T14:45:13","date_gmt":"2011-02-28T14:45:13","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/02\/28\/stocks-start-the-week-on-a-positive-note\/"},"modified":"2011-02-28T14:45:13","modified_gmt":"2011-02-28T14:45:13","slug":"stocks-start-the-week-on-a-positive-note","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/02\/28\/stocks-start-the-week-on-a-positive-note\/","title":{"rendered":"Stocks start the week on a positive note"},"content":{"rendered":"<p><div readability=\"102.66343356\"><span id=\"fb-recommend\"\/><br \/>\n<span>By CNNMoney staff<\/span><span>February 28, 2011: 9:43 AM ET<\/span><!--startclickprintexclude--><br clear=\"all\"\/><!--endclickprintexclude--><!-- CONTENT --><\/p>\n<p>NEW YORK\u00a0(CNNMoney) &#8212; Stocks opened higher Monday morning, as investors welcomed a report showing a larger-than-expected increase in personal income and saving. <\/p>\n<p>However, the gains were somewhat muted as the ongoing tension in Libya continues to underpin sentiment.<\/p>\n<p><!-- REAP --><!--startclickprintexclude--><!--endclickprintexclude--><!-- \/REAP --><\/p>\n<p>At the opening bell, the Dow Jones industrial average (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=INDU&#038;source=story_quote_link\">INDU<\/a>) rose 35 points, or 0.3%, the S&#038;P 500 (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=SPX&#038;source=story_quote_link\">SPX<\/a>) ticked up 3 points, or 0.2%, and the Nasdaq (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=COMP&#038;source=story_quote_link\">COMP<\/a>) rose 9 points, or 0.4%.<\/p>\n<p>U.S. stocks closed <a href=\"http:\/\/money.cnn.com\/2011\/02\/25\/markets\/markets_newyork\/index.htm\">solidly higher<\/a> Friday, but<a href=\"http:\/\/www.cnn.com\/2011\/WORLD\/africa\/02\/28\/libya.protests\/index.html?hpt=T2\">fears about Libya<\/a> and the<a href=\"http:\/\/money.cnn.com\/2011\/02\/25\/markets\/oil\/index.htm\"> oil market<\/a> translated into the worst week for stocks since November.<\/p>\n<p>Despite the recent volatility, stocks are off to a strong start this year. The major indexes are all up nearly 5% so far in 2011.<\/p>\n<p>Bruce McCain, chief investment strategist at Key Private Bank, said he thinks the market will continue to move higher, barring any escalation in geopolitical risks. <\/p>\n<p>&#8220;The news has been largely positive for equities and there is a bias towards seeing the positive side of things,&#8221; he said. &#8220;As long as the geopolitical situation doesn&#8217;t get significantly worse, investors will continue to focus on what has been by-and-large good economic news.&#8221;<\/p>\n<p>Meanwhile, investors were generally unfazed<a href=\"http:\/\/money.cnn.com\/2011\/02\/28\/markets\/stock_market_government_shutdown\/index.\"> by a potential shutdown of the federal government<\/a>, which could occur if Congress fails to approve a spending bill before midnight Friday. <\/p>\n<p><a href=\"http:\/\/money.cnn.com\/news\/economy\/index.html\"><b>Economy:<\/b><\/a> A report from the Commerce Department showed that <a href=\"http:\/\/money.cnn.com\/2011\/02\/28\/news\/economy\/personal_income_spending\/index.htm\">personal income jumped 1%<\/a>, while spending by individuals rose 0.2% in January. <\/p>\n<p>Economists were looking for personal incomes to rise 0.3%, and the personal spending figure was expected to go up 0.4%.<\/p>\n<p>Later Monday morning, the Chicago purchasing managers index will be released, followed by pending home sales at 10 a.m. ET from the National Association of Realtors.<\/p>\n<p>The Chicago PMI is expected to decline slightly to 67.5 from last month&#8217;s 68.8, and pending home sales are expected to fall 3.2%.<\/p>\n<p>Economic data due later this week include the national PMI from Institute for Supply Management on Tuesday, and the <a href=\"http:\/\/money.cnn.com\/2011\/02\/26\/markets\/sunday_lookahead\/index.htm\">government&#8217;s monthly payroll report on Friday.<\/a><\/p>\n<p><a href=\"http:\/\/money.cnn.com\/news\/companies\/\"><b>Companies<\/b><\/a>: Little corporate news is due out on Monday. Auction house Sotheby&#8217;s (<a href=\"http:\/\/money.cnn.com\/quote\/quote.html?symb=BID&#038;source=story_quote_link\">BID<\/a>) will report after the market close.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/world_markets\/europe\/\"><b>World markets:<\/b><\/a> European stocks were up in afternoon trading. Britain&#8217;s FTSE 100 was flat, while the DAX in Germany ticked up 1.3% and France&#8217;s CAC 40 edged up 1.1%.<\/p>\n<p>Asian markets ended the session higher. The Shanghai Composite added 0.9%, the Hang Seng in Hong Kong gained 1.4% and Japan&#8217;s Nikkei rose 0.9%.<\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/currencies\/index.html\"><b>Currencies<\/b><\/a><b> and <a href=\"http:\/\/money.cnn.com\/data\/commodities\/index.html\">commodities:<\/a><\/b> The greenback fell against the euro and the British pound, but rose versus the Japanese yen.<\/p>\n<p>Oil for April delivery slipped 23 cents to $97.65 a barrel. <\/p>\n<p>Gold futures for April delivery rose $1.60 to $1,410.90 an ounce. <\/p>\n<p><a href=\"http:\/\/money.cnn.com\/data\/bonds\/index.html\"><b>Bonds<\/b><\/a><b>:<\/b> The price on the benchmark 10-year U.S. Treasury rose, pushing the yield down to 3.42% from 3.59% late Friday. \u00a0<a href=\"http:\/\/money.cnn.com\/2011\/02\/28\/markets\/markets_newyork\/index.htm?section=money_topstories&#038;utm_source=feedburner&#038;utm_medium=feed&#038;utm_campaign=Feed%3A+rss%2Fmoney_topstories+%28Top+Stories%29#TOP\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/0e63013ebug.gif\" alt=\"To top of page\" border=\"0\" width=\"7\" height=\"7\" \/><\/a><\/p>\n<p><!-- \/CONTENT --><!--startclickprintexclude--><!--startclickprintexclude--><br \/>\n<!--endclickprintexclude--><!--endclickprintexclude--><\/div>\n<\/p>\n<p><img decoding=\"async\" src=\"http:\/\/www.ghanamma.net\/wp-content\/uploads\/2011\/02\/0e63013ebug.gif\" \/><\/p>\n<p>Here is the original post:<br \/>\n<a target=\"_blank\" href=\"http:\/\/rss.cnn.com\/~r\/rss\/money_topstories\/~3\/-Pk2DDpP984\/index.htm\" title=\"Stocks start the week on a positive note\" rel=\"noopener noreferrer\">Stocks start the week on a positive note<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> By CNNMoney staff February 28, 2011: 9:43 AM ET NEW YORK\u00a0(CNNMoney) &#8212; Stocks opened higher Monday morning, as investors welcomed a report showing a larger-than-expected increase in personal income and saving. However, the gains were somewhat muted as the ongoing tension in Libya continues to underpin sentiment<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-284591","post","type-post","status-publish","format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Stocks start the week on a positive note - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/02\/28\/stocks-start-the-week-on-a-positive-note\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Stocks start the week on a positive note - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"By CNNMoney staff February 28, 2011: 9:43 AM ET NEW YORK\u00a0(CNNMoney) -- Stocks opened higher Monday morning, as investors welcomed a report showing a larger-than-expected increase in personal income and saving. 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