I can't complain, I guess. For every one percent of assistance the Fed tries to give the S&P, I'm probably getting a twenty percent boost.
My love of country stops me from getting much pleasure from it, though.
Stocks in U.S. Rise on Expectations for Stimulus; Euro, Brent Crude Drop
By Stephen Kirkland and Rita Nazareth
Bloomberg.com
Aug 22, 2011 3:15 PM ET
U.S. stocks rose, rebounding from the biggest four-week decline by the Standard & Poor’s 500 Index since 2009, on speculation the Federal Reserve will act to stimulate the economy. The euro and Brent oil sank.
The S&P 500 advanced 0.4 percent to 1,128.45 at 3:14 p.m. in New York. The Stoxx Europe 600 Index added 0.8 percent, reversing an earlier drop of 0.8 percent. The euro dipped 0.2 percent against the dollar, while the yen weakened from almost its postwar record against the dollar. Brent oil slipped 0.4 percent after Libyan rebels swept into Tripoli. The cost of insuring European government debt increased for the fifth day. Gold jumped 2.2 percent to a record.
The four-week rout in equities has wiped out more than $8 trillion in global stock values before central bankers from around the world prepare to meet in Jackson Hole, Wyoming. Record-low yields on U.S. Treasuries show traders expect Federal Reserve Chairman Ben S. Bernanke to signal a third round of asset purchases. Libyan rebels captured two of Muammar Qaddafi’s sons in the battle to end his 42-year rule.
“The market remains very nervous and I expect a great deal of attention will be paid to Bernanke’s Jackson Hole address and his analysis of economic prospects,” Alan Gayle, a senior strategist at RidgeWorth Capital Management in Richmond, Virginia, which oversees about $48 billion, wrote in an e-mail. “Valuations are quite reasonable in the stock market, but until investors get a clearer sense of the potential downside risks they will be reluctant to buy.”
Full story: http://www.bloomberg.com/news/2011-08-22/u-s-index-futures-fall-oil-drops-on-growth-concern-correct-.html
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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