Employment Outlook Disappoints. . .uh, Cheers Market
With uncanny contrarian timing, the Washington Post heralded the year-end rally in its Saturday edition with the headline, “No Santa Claus Rally for Wall St.” To be fair, the credit for this epitaphic declaration goes to the headline writer; the article itself was specifically about the market’s failure to rally last week, and the story writer was entirely innocent of any ill-considered prediction about the week to come. Nevertheless, the market reversed on cue, bouncing off the prior week’s lows Monday…
Thursday, January 1, 2009
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