Oil Takes the Heat
The stock market and oil market are working true to form -- they are giving back gains in the summer. Historically, July and August have been horrible, and it looks like this summer season is on track to continue the trend. Now is the time to buy stocks.
That's tough to do, because there's a lot to frighten investors in the market today. Continued bad growth figures, both with GDP here and with flash manufacturing Purchasing Managers' Index data in China, have seen the major investment banks revise growth estimates for the year downward again. Combine that with European debt worries in Spain and Italy, and a U.S. debt package that probably eliminates another round of Fed-induced quantitative easing, and it certainly ends any possibility of either implied or directed fiscal stimulus. You might wonder why any investor shouldn't be entirely in cash or gold....514 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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