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Market recap: Stocks started the new month with a bang, as the Dow topped 14,000 for the...
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Friday, February 1, 4:10 PM ETMarket recap: Stocks started the new month with a bang, as the Dow topped 14,000 for the first time since Oct. 2007 on encouraging data on U.S. jobs and manufacturing. Most sectors enjoyed buying interest, particularly financials; BofA and Morgan Stanley each gained more than 3%, while Citi and JPMorgan rose ~2%. Crude oil continued higher; Treasury prices fell, with longer yields at 10-month highs.
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This news story has 5 comments:
-Bill L.
You have to ask yourself, logically, since this is just an innocent coincidence, why would the Fed be doing this? Of course, the answer is to boost investor confidence in equities/overall economy. This also helped Obama get in office, an example of unintended consequences.
Now, if this same govt is proved to cook the books, what are they saying above inflation? I think we know the answer and its not a good sign for things to come, like drastically rising interest rates to stop inflation in a recessionary environment. Think Jimmy Carter.