The Day Ahead: A Perplexed Market
There I sat, coffee in hand, getting in some last minute research before Fed chief Ben Bernanke was to give congressional testimony Tuesday. The robust market open was understandable after Monday's drubbing, given the heightened demand for lower-priced stocks after investors were reminded that Italy won't be exiting the eurozone. Yet the pop didn't seem right to me. In fact, it felt fake -- a function of simple repositioning ahead of soothing words of wisdom from the Fed chairman and economic reports that made sense.
Then Bernanke spoke, visibly nervous as usual -- but little more rebellious, too, since it's probably close to the end of his tenure. The market zigged and zagged and, by the close of trading, it had scored a decent enough gain to anger the bears....435 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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