You can knock the economy and call this a sucker’s rally… but the market is damn resilient
Yesterday had the feel of a top before a long decline, especially with Goldman Sachs (GS) falling immediately after their secondary offering.
And though the markets were down early today, with all kinds of bad news to cite, the stock market came back solidly. The Dow ended up 109.52, closing back over 8,000. The NASDAQ was basically flat on the day, while the S&P 500 was up just over 1%.