THE MARKET BATTLED TO GAIN HIGHER GROUND TODAY ... BUFFETED BY SOME CONFLICTING ECONOMIC DATA ... THOUGH MOST OF THE NUMBERS REVEAL AN IMPROVING U.S. ECONOMY. DESPITE LINGERING CONCERNS ABOUT TROUBLES IN EUROPE AND IMPENDING RATE HIKES IN CHINA ... THE MARKET MANAGED TO CONTINUE ITS WINNING STREAK WITH THE DOW TOPPING 10,600 ... UP ABOUT 44 POINTS AND THE S&P AND NASDAQ ADDING TO RECENT GAINS.
BANK STOCKS WERE QUITE STRONG WHILE TECH CONTINUED ITS BOUNCE. HOUSEHOLD NET WORTH IN THE U.S. WENT UP IN LAST YEAR'S 4TH QUARTER ... AS CONSUMERS PAID DOWN DEBT AND STOCK PRICES ROSE IT WAS THE THIRD STRAIGHT QUARTERLY ADVANCE ... WHICH MAY BE HELPING CONSUMERS START SPENDING AGAIN. OIL MOVED HIGHER AGAIN ... TOPPING 82 DOLLARS A BARREL ... WHILE GOLD TESTED 1100 DOLLARS AN OUNCE BEFORE SETTLING SLIGHTLY HIGHER ON THE DAY.
MEANWHILE ... FURTHER IMPROVEMENT THAT CREDIT MARKETS ARE GETTING BACK TO NORMAL ... FANNIE MAE SOLD 6 BILLION DOLLARS WORTH OF BONDS ... WHICH WERE SNAPPED UP BY INVESTORS. THE UNFREEZING OF THE CREDIT MARKETS IS GOOD NEWS FOR BUSINESS AND ULTIMATELY CONSUMERS AS THE ECONOMY RETURNS TO NORMAL AFTER LAST YEAR'S CRISIS. |
|
|
