The dip is being bought.
But first, the scoreboard:
S&P 500: +5.05
And now, the top stories:
- It was a pretty quiet night in Asia, though the general theme all around was RISK ON. A story about China buying European bonds really set the tone for a big really in everything risky: stocks, commodities, the euro, you name it.
- All that however faded going into the open, as everyone realised that, hey, China buying European debt absolutely means nothing.
- In the US, there was basically one key moment of the day, and that’s when we got double bad news from the GDP (horrible) and initial claims (pretty bad). All this only confirmed the the downtrend.
- But then… stocks rose, and it wasn’t even matched by a rally in commodities. Very odd. It was also very quiet, as people are already taking off for the weekend.
- Click here for a thorough list of signs the economy is slowing down >