(As of 7:41 am pacific)
Happy day!!! All is right with the world again. It’s a ‘risk on’ day with buyers snapping up
every investment with great vigor. A
European agreement which has seemed to stabilize the debt situation…at least
until it collapses again anyway. Europe
definitely dominates the news, but there was some good domestic data with a
positive Chicago PMI, a popular measure of manufacturing activity. There was also some negative news concerning
consumer confidence and a couple of troubling profit reports, most notably from
Nike. My best advice is to not get too
excited about this. The weekend may
provide twists and turns again for Europe and it’s not likely a magic bullet
will fix global problems immediately.
Watch for the great optimism of this market to fade slightly as the day
wears on, but still leave us with a notable gain for the end of the
quarter. Oil, Gold, commodities…all
up. Down today? Volatility and the dollar bigtime! Have a great weekend!
