Currently, the DOW is up over 89 points as stocks continue to recover from last week’s losses. Initially, the markets were down from yesterday’s close after reports of more economic weakness, but Obama’s promise that “help is on the way” outweighed the negative reports.
Todd Salamone, director of trading and vice president of research at Schaeffer’s Investment Research in Cincinnati, had this to say, “Expectations have come down, but the big question is if that’s rational or not. Certainly the stock market and the credit markets have suggested there might be some rationale in that, but time will tell.”
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