It wasn’t a mindblowing day in either way today. There was some predictably crappy home, jobs and durable goods data, but what else is new? There was an auction of 7-year bonds that went fine, and there’s a little glimmer of hope that the GM (GM) bankruptcy won’t be an all-out horrow show (just a minor horror show).
So after getting routed yesterday, the bulls struck back, frustrating neutered shorts who keep waiting for a sustained, multi-day selloff.
In the end, the Dow was up over 100 points, and the indices were up over 1% across the board.