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Parliament approves in principle the draft "National Campaign

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U.S. Stocks Close Higher For 2nd Day, Show Gain On Week
the so-called "fear index"--as measured by the CBOE Volatility Index fell 12% to 26.58.

A larger-than-expected upward revision to U.S. gross domestic product data, showing that U.S. economy grew at a faster 3.7% in the second quarter (, helped lift the spirits of investors that have been unsettled by a spate of volatility. Weekly data on jobless claims (, which pointed to continued strength in the labor market, added to the optimism.

"Today's revision means the U.S. economy is growing faster and [the] consumer spending portion points to a stronger growth in the second half of the year. With this kind of growth, we expect $135 earnings per share by the end of 2016," said Phil Orlando, chief equity strategist and senior portfolio manager at Federated Investors.

That translates to a 35% rise in the S&P 500 from its current level by the end of 2016, according to Orlando.

Global equity markets rallied following a 5.3% surge in the Shanghai Composite overnight, snapping a losing streak that wiped out nearly a quarter of its value in a week. That jump cheered investors world-wide, as fears about China have been blamed for much of the recent intense selling around the globe.

See: U.S. investors shouldn't fear China's slowdown (

Even so, some China watchers are questioning what drove the move and suggest the Chinese government intervened again. Read more: China's mystery rally (

Investors had fled from stocks largely due to a lack of confidence in the Chinese government's handling of its financial markets, and the perception that the government was spending all its political capital on propping up the stock market rather than investing in its domestic economy, said John Canally, chief economic strategist for LPL Financial.

"They're clumsy and not used to reacting to markets," Canally said. "They're new to this."

The rally in U.S. stocks implies that investors are treating the recent actions out of China much like they did the 1998 Asian markets crisis, when U.S. stocks sold off initially, then bounced back, Canally said.

On Wednesday, the S&P 500 jumped 3.9% as the Dow surged 619 points ( The benchmark S&P stands 8.9% off its May record close, after finishing down 12.4% from that level on Tuesday.

Other markets:Asian markets rebounded (, while European stocks also traded higher (

Crude oil ( settled 10% higher, while gold ( settled slightly lower. The dollar ( strengthened by 0.7%.

.--Victor Reklaitis in London contributed to this article.


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(END) Dow Jones Newswires

August 27, 2015 16:24 ET (20:24 GMT)

Copyright (c) 2015 Dow Jones & Company, Inc.
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stockings3333   Wednesday, 05/07/08 09:55:26 PM
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Parliament approves in principle the draft "National Campaign for Reconstruction"


Parliament approves in principle the draft "National Campaign for Reconstruction"

Barham Saleh called upon the Council to provide the necessary funds for its implementation

BAGHDAD - Al Sabah

The House of Representatives approved "in principle" on the "National Campaign for Reconstruction," at the time called on Deputy Prime Minister Barham Saleh, the parliament would approve the provision of financial allocation required to implement the project

It examined the parliamentary session yesterday, in the presence of Deputy Prime Minister Barham Salih, a draft "National Campaign for reconstruction", which aims to find ways and means of unconventional move for architectural and project implementation.

He called Saleh during the meeting, providing allocation required to implement a project of national reconstruction campaign, according to draft a special law must ratify it as soon as possible, as well as a mechanism of communication between Parliament and the Commission supervises the implementation of the campaign. "

Within the discussion of the deputies of the project, Haider Abadi, the deputy pointed out that the "gesture of the government to give this important project, because it aims to develop the economy, in addition to investing in a good financial surplus, indicating that the bureaucracy is the greatest impediment to the implementation of reconstruction projects.
For his part, welcomed the independent MP Mahdi Al-Hafiz, the project, noting that implementation levels in accordance with existing contexts low, and the importance of the programme lies in the direction towards accreditation and the private sector.

With the independent MP pointed Wael Abdul Latif, the need for a draft bill for the supplementary budget, to address shortcomings in the existing 2008 budget, calling for the promotion of agricultural projects.

He welcomed the deputy coalition went on to the project, stressing the importance of implementing strategic projects with public benefit, and building housing projects, health and roads between cities and countryside.
The MP demanded full of Albulada provinces that have an effective role in accomplishing this project, stressed Deputy Hashim Al-Taee of the Accord Front on the importance of equitable distribution of wealth and funds through an independent body.

The Deputy Prime Minister House on queries, explaining that parliament deal with the project very useful. "As Chairman of the meeting, Sheikh Khalid al-Attiyah, First Deputy Speaker of Parliament, said: The House of Representatives this project pending a legal formula to be debated and ratified, through meetings devoted to this.

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