S&P 500 gained 29.65 .. 1.66 percent.. 1,810.65
Break out the champagne and cigars, Wall Street!
Merry Christmas!
“confirming that the U.S. economy was on firm footing.”
Oh really??
I am always baffled at how the MSM attributes a cause to why the stocks go up or down every single day and almost none of them have anything to do with how companies are performing.
WTF?
In the past, mere rumors of “tapering” cratered the markets.
confirming that the U.S. economy was on firm footing Wall Street's pusher is still dealing
There we go......
Looks like 2013 starts and ends with a DJ +300 point day.
Meanwhile in the real world, the shares of Ford and GM went down today, with Ford collapsing more than 6%, due to the company’s lower-profit warnings for next year.
So, the automobile companies are expected to have a bad 2014, and the health-insurance companies can’t do well either since so few ObamaCare registrations are being recorded. Which to the Fed apparently means, happy days are here again.
Fed tapering is now views as proof that the economy is on a firm footing? Maybe I am old school, but I always look to employment, economic growth, productivity. Watching the Fed’s actions for indications about the strength of the economy is kind of like seeking your friend’s opinion about how pretty a girl is. USE YOUR OWN EYES!
They told you to sell you should have bought what were you thinking.
Most of my net worth is in equities (80% U.S., 15% Asia, 5% other), so I did very well today. And I've done quite well during Obama's Presidency. Why, I don't know. Obama gets no credit from me; as far as I'm concerned, my financial success under his hegemony has nothing to do with his policies.
The recent run-up in stock prices, if anything, makes me more cautious. Time to take some profits, and build up some cash?
Initial reaction was a steep drop in the DOW, I wouldn’t be surprised if the FED bought that whole rally...a gift to the incoming crop duster.