Backbone Not Likely in Fed’s Exit Strategy Toolkit
Good Evening: Just when market participants had grown used to the stock market’s recent pattern of falling in the morning and rising in the afternoon, U.S. share prices pulled a George Costanza and did the opposite today (if you are unsure what this “Seinfeld” reference means, click here). Higher markets overseas, some decent earnings reports, and a positive interpretation of the jobless claims figures were all factors in pushing stocks to new highs for the year this morning. Some profit taki