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Market recap: Stocks started the new month with a bang, as the Dow topped 14,000 for the...

Market 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.
Comments (5)
  • Bill L.
    , contributor
    Comments (682) | Send Message
     
    This week's market sentiment report: http://seekingalpha.co...

     

    -Bill L.
    1 Feb 2013, 05:34 PM Reply Like
  • Derek A. Barrett
    , contributor
    Comments (3534) | Send Message
     
    Awesome, now I can get rid of a lot of these legacy mutual funds and reallocate them somewhere else with lower fees.
    2 Feb 2013, 03:02 AM Reply Like
  • Tom Saga
    , contributor
    Comments (80) | Send Message
     
    Despite the stumble at year’s end, the U.S. still grew more in 2012 than it did a year earlier. Economic growth increased to 2.2% from 1.8%.
    2 Feb 2013, 08:21 AM Reply Like
  • tr4head
    , contributor
    Comments (330) | Send Message
     
    If you believe your Govt/Fed Stats I believe you may be in big trouble. Fact is (check WSJ article earlier this week), of the 19 quarters since Obama has been in office, take a guess how many Fed ESTIMATES of GDP growth were OVERSTATED vs UNDERSTATED. As Max Smart would say (but this time would be true), "would you believe" 16 out of 19? That's right, almost 85% of the time, our ineffectual govt guessed wrong and had to revise growth downward. Its getting worse with last quarters estimate off by over 1%.

     

    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.
    2 Feb 2013, 09:13 AM Reply Like
  • Petelovesamy
    , contributor
    Comments (178) | Send Message
     
    Volume, ~ 20% smaller than Yesterday................ had to be, lots of Shorts, covering !?
    3 Feb 2013, 05:04 PM Reply Like
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