Bears Lose AGAIN: Here's What You Need Know

sad girl

Photo: Orin Zebest on flickr

The win streak. It’s alive!But first, the scoreboard:

S&P: 1.15
DOW: 12.25

  • Very early in the morning (4:00 AM-ish) it was looking as though today would be a huge win for the bulls. A pair of strong earnings reports from the tech sector — Oracle and Research in Motion — helped power the NASDAQ.
  • The complacency was shaken away, however, by a slew of seemingly unfounded rumours from Ireland, where the ongoing bailout of Anglo Irish Bank continues to threaten the country’s sovereign solvency.
  • There were two big macro numbers this morning. CPI came in on the coolside at 8:30, and then at 9:55, Consumer Sentiment came in light, and it seemed that briefly that would slam the market.
  • But the market found some buoyancy and ended up rallying. Of cours, it was one of these uninspiring, no-volume moves. But, hey, it’s the weekend. You can worry about thin volume on Sunday night.

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