Wall Street Rose at Opening

Wall Street's stock market rose after the announcement of $41 billion acquisition deal between Merck and Schering-Plough. This deal helped market to rise, although investors were still pessimistic about economic condition.

The negative news occured, when McClatchy Co. planned to cut 1.600 jobs because of its declining revenue.

Warren Buffet told CNBC's Becky Quick that the U.S. economy has fallen off a cliff over the past six months. The economy has slowed down a lot, and consumer have really changed their habits.
He said that the economy can't turn around on a dime and a turnaround won't happen fast, but he is really optimistic about U.S. economy in future. He said the economy will be running fine five years from now, because the strength of the American system will pull it through, just as it has many times in the past.

With this news, we know that American systems are strong. So although the economy condition has slowed, but people must still overcome their fear. With this optimistic long-term view, we can encourage the stock market to lift higher and beat this recession. As American president, Obama said that we must believe in change. So change your pessimism into optimism, and participate back in stock market!

Posted in: News