SlackerCSB
EOG Senior Member
Stocks surge on home sales data, oil dip - Yahoo! News
Sorry Doc. Hope this good news doesn't ruin your day!
Sorry Doc. Hope this good news doesn't ruin your day!
It's good news SlackerCSB, but far earth shattering. It's one days news, in a market that continues in perpetuity."When economies are softer than anticipated, companies get a lot of negative suprises. It's way too early to say this definitely, but perhaps the economy isn't slowing as rapidly as envisioned," Caughey said.
"I don't think we're out of the woods yet," said John O'Donoghue, co-head of equities at Cowen & Co., noting that some of the market's gains were probably due to frustrated traders short-covering, or buying back bets that prices would fall. "The market has exhibited a certain amount of complacency. We'll see how earnings come in."
When you dig deeper than the initial headline, you find that there is still much doubt in the market.Fears that lending problems will spill over into the rest of the economy have been a major factor behind the market's volatility of the past several weeks. The uptick in home sales was slight but came as a pleasant surprise to investors who had been bracing for the worst.