Taking Cover After That Bizarre Disconnect
The past few years have brought a number of memorable headlines in the financial presses, from the optimistic to the downright demoralizing. But Thursday I saw what had to be the most amusing of them all: "U.S. Stocks Jump on Bad News." If that isn't proof that we are living in interesting and unpredictable times, I don't know what is.
The bad news being reported came in a number of different shapes and forms. Jobless claims in the U.S., the ongoing thorn in the side of the domestic recovery, unexpectedly jumped. Yields on Spanish and Italian debt surged amid intensifying anxiety surrounding the bailout(s) there. Even the private sector provided fuel for a decline, with Nokia (NOK) announcing a fresh round of layoffs....384 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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