Yesterday’s stock rebound may have been another dead kitten bounce.
Or it may have been due to the FDIC chairb$tch warning that FDIC was in trouble.
Regardless the market at this time is back down across most indexes:
http://bigcharts.marketwatch.com/markets/indexes.asp
Yesterday’s bounce was driven by news from China. How sad is that? Construction and raw materials went up because China’s stimulus plan seeks to increase contruction. Hence, my FCX and other similar stocks had a nice day. Today’s drop, as I understand it, is driven by retail.
NewsReader last night said that "Obama's talking up the economy has started to affect Wall Street. Dow was up by 150 (or so, I don't remember) points."
"Let's talk about the other 3000 points it's dropped by since his election!"....Wife is going to stop letting me watch the news, I argue with the TV too much.