Friday, November 15, 2013

Economic Journal - Friday, 11/15/2013

(as of 7:20 PST)

Investors continue to cheer the presumptive Fed nominee Janet Yellen by pushing stocks up yet again.  Speculation about continued easy money policies has trumped mildly negative economic data and indexes are higher in early action.  The Empire State Index, a widely followed measure of economic activity, was down and other figures relating to industrial activity were mildly disappointing.  It seems there is no stopping this upward momentum.  Oil and gold are up slightly and interest rates are stable.  The thirty year mortgage rate has been steadily climbing and now sits at about 4.35%.  Momentum is a fickle thing and can turn quickly.  Now might be a good time to lock in profits.

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