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Market up 1% in the morning on hopes for European “comprehensive” plan

This morning I checked the premarket data to see what is driving or will be driving the market in the morning. And I found an article on CNN Stocks: Optimistic about Europe … for now.

So investors are optimistic this morning about Europe leaders who are going to meet today and later on they should announce a “comprehensive plan”.

Strong words. Really.

European government heads will be meeting Wednesday, after pledging to unveil a comprehensive plan to tackle the region’s debt crisis.

An official announcement isn’t expected until later in the day.

“We all expect the plan is going to happen. The question is — is it really going to be big enough to make a dent?” said Mark Lamkin, founder and president of Lamkin Wealth Management in Louisville, KY

What do you think this plan would be about? What are those optimistic investors expecting? Are they that naive to think that the leaders meet and suddenly the debt disappear?

All they come up with is providing guarantees to irresponsible banks who were buying bad bonds (and possibly knowing it) and now they ask the Governments for bailout, but who will be those paying? You guess it, the tax payers.

And I cannot belief that there are some investors out there who believe in this and are optimistic about it.

2 responses to “Market up 1% in the morning on hopes for European “comprehensive” plan”

  1. Carmen says:

    The info on this site is beneficial.

  2. Kelly says:

    Will the stock market raise or drop? What do you think? Did we bottomed or are we facing a huge drop?

  3. Ron says:

    No matter what happens in Europe, Wall St. is trying to convince everyone how cheap stocks are. US Debt Clock to blow past 15 Trillion in next couple of weeks. No signs of slowing down, let alone turning positive. The US has a gaping chest wound and no first aid treatment. Their tactic is to shift focus to Europe even though the bigger problem rests at home. This is a WORLD issue, not a European issue. Set the story straight. You can pull wool over my eyes for a day or two, but not for 4 years. Stimulus checks to every man woman and child in 2008 will solve all of our problems? Look where that got us!!! The only fix, both to world economies and to the current recession is to develop a 5 year plan. Here is what we have to do every day for the next 5 years to get jobs and the economy back on the rails. NOT, what can we do today to make the market pop tomorrow!

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