(As of 7:10 am PST)
It’s all smiles today with
most indexes opening to new record highs.
The new jobs figure came in at its highest level since 2008 and
revisions from prior months provided an even stronger glimpse of the strength
of the recent economic recovery. Oil is
up and gold is down. The US currency is
falling hard against most other currencies with investor risk appetite very
high. Interest rate yields are on the
rise. It looks like a great day for the
bulls today amidst very positive economic data.
The only negative is that the need for more economic stimulus is on the
wane and markets have become so reliant on easy money policy that there could
be market pain as QE3 is rolled back.
But not today! It’s all systems
go!
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