Our trip to Paris served as a brief distraction from the “good news” chatter that MSM floods us with. “Global confidence index holds at record high as signs recession has ended,” reads Bloomberg. Yesterday, Chairman Ben indicated that the recession is over, sending stocks and commodities higher.
The press attributed this week’s rise in gold to benign causes. The end of the world seems to have been postponed – indefinitely. Bloomberg reported that a clear majority of those polled thought the world economy was recovering.
The financial services industry in the United States and Europe is still reeling from the financial crisis, shedding tens of thousands of jobs each month – even a year after the crisis hit its apex.
There’s no question that the past year-and-a-half has been disastrous for investors. Since last March, the S&P 500 has lost nearly a quarter of its values, and many are still too scared to put their money back in the market in the market. But according to some of the best investors in the world, now is exactly when you should turn your eye to stocks…
Is the recession technically over? The strongest argument for recovery we’ve seen yet… Rob Parenteau shares his new macro economic forecast… “Told you so!” writes Byron King — “breaking news” he and The 5 scooped in March 2008… Plus, Chris Mayer’s latest contrarian play…
Now the summer days are dwindling down to a precious few. This morning, it is overcast and chilly here in central France. The leaves on the aspen and linden trees have turned yellow already; whenever the wind blows, they flutter to the ground as if they were trying to get away from something.
The global markets are beginning to diverge. As the economy rebounds, the winners are separating from the losers. So far, Gravity (NASDAQ:GRVY) appears to be on the winning team.
Oil Rises on China Demand, Slowing U.S. Recession; Homebuilder Shares Surge After Order Increase; Natural Gas ETF to Suspend New Share Offers; Microsoft to Bring Office to Nokia Smartphones; J.D. Power: Auto Sales to Surge Next Year; WTO: China Violated Trade Rules on Books and Movies; Despite Shrinking Sales, Macy’s Beats the Street
Currencies rally… Eurozone growth unexpectedly stronger! FOMC extends QE… Norges is the first!
And Now… Today’s Pfennig!
Since the stock market bottomed out in March, the Nasdaq 100 index has led the way forward, with a 55% rally, with the Dow and S&P 500 not far behind.