The market is trying to push
forward this morning. Positive comments
from Federal Reserve Chair nominee Janet Yellen have found favor with
investors. Continuing economic stimulus
appears in the cards during her reign and that always seems to cheer things
up. Progress is being held back by
cautious business projections by key players.
Walmart, Kohls and Cisco are all seeing slow growth next quarter, with
Cisco, in particular, falling hard, down over 10%. Continuing claims for unemployment were below
forecast, further dampening enthusiasm.
Gold is up sharply on prospects for the continuing stimulus and oil
continues its downward drift. Gas prices
are the lowest in years. With most
market indexes at record highs, don’t be surprised to see some profit taking as
the week finishes up.
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