Reed Mcpherson CEO Pleased as Stocks And Euro Jump on Speculation of Larger Europe Bailout

Top Quote Stocks jumped, sending U.S. benchmark indexes to their biggest gains in three months, while the euro and commodities rallied and Treasuries slid amid improving data on the American and Chinese economies and speculation of a larger effort to end Europe's debt crisis. End Quote
  • (1888PressRelease) December 03, 2010 - The Standard & Poor's 500 Index gained 2.2 percent, the most since Sept. 1. The MSCI Emerging Markets Index rose 2.2 percent, its biggest gain since Aug. 2. The euro rebounded above $1.31 while Spanish 10-year bonds snapped an 11-day drop. The rate on 10-year Treasury notes increased 17 basis points to 2.97 percent, a four-month high. Oil and copper advanced more than 3 percent. After the U.S. close, S&P 500 futures added 0.1 percent at 7 p.m. in New York and Japan's stocks rose in early trading.

    U.S. equities started what is historically their best month with a rally after ADP Employer Services data showed companies added 93,000 jobs last month, the Federal Reserve said the economy strengthened across most of the nation and manufacturing in China expanded at the fastest pace in seven months. European Central Bank President Jean-Claude Trichet said yesterday that investors are underestimating policy makers' determination to halt the region's debt crisis and shore up the euro ahead of a meeting of the bank's Governing Council tomorrow.

    "We're working our way back," said Michael Richardson, CEO at Reed Mcpherson Associates in Seattle, which oversees $347 billion. "The ADP number shows that we're clearly going in the right direction," the Reed Mcpherson CEO said. Richardson finished by saying "The strength out of China shows that, even if there's some tightening, they will be successful in engineering a soft landing."

    Striving to change the perception of what a Mergers & Acquisitions firm should be, Reed Mcpherson Associates is driven to offer the most innovative legal services available to our clients. For over 20 years, our unconventional insight and collaborative work style has guided the advancement and success of our valued clients.

    Today, Reed Mcpherson Associates remains faithful to its founding focus and entrepreneurial roots by leveraging sound business and mergers & acquisitions experience, strong business relations to enhance the growth and prosperity of our clients.

    Our experience and commitment to client service has enabled Reed Mcpherson Associates to become recognized as a leading mergers & acquisitions firm.

    Located in Seattle, Washington, we serve the global business community, from small, entrepreneurial and family-owned businesses to publicly traded corporations.

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