THE MARKET MEANDERED A BIT TODAY ... ALTHOUGH THE NASDAQ CELEBRATED THE TENTH ANNIVERSARY OF ITS ALL-TIME HIGH WITH ANOTHER WIN. THE NASDAQ HIT 5048 TEN YEARS AGO TODAY AT THE HEIGHT OF THE INTERNET BUBBLE AND PROMPTLY PLUNGED ABOUT 80 PERCENT IN THE NEXT NINE YEARS. SINCE THE MARKET BOTTOMED LAST YEAR ... THE NASDAQ HAS REBOUNDED ABOUT 85 PERCENT FROM ITS LOWS ... BUT WOULD NEED TO MORE THAN DOUBLE TO GET BACK ABOVE 5000. THE MARKET WAS MIXED TODAY ... A STRONGER DOLLAR KNOCKED GOLD FOR A LOOP BUT OIL CLOSED THE DAY AT A 2-MONTH HIGH ... JUST UNDER 82 DOLLARS A BARREL.
THE LABOR DEPARTMENT SAYS NINE STATES SAW THEIR UNEMPLOYMENT RATES IMPROVE IN JANUARY WHILE THE NATION'S BUDGET DEFICIT SURGED TO A RECORD 221 BILLION IN FEBRUARY ... IN PART ON SPENDING TO PROMOTE GROWTH. THE SENATE PASSED A 138 BILLION DOLLAR BILL THAT WOULD EXTEND JOBLESS BENEFITS AND GIVE AID TO STATES SUFFERING FROM THEIR OWN BUDGET PROBLEMS. CONGRESS JUST PASSED A SHORT-TERM ... 15 BILLION DOLLAR JOBS BILL THAT SOME SAID WOULD DUE LITTLE TO BOOST EMPLOYMENT. BUSINESS GROUPS ARE TAKING OUT ADS ATTACKING THE PRESIDENT'S HEALTHCARE MEASURE ... WHICH THE PRESIDENT WANTED PASSED BY NEXT WEEK. |
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