Following the late-week buying and short-covering spree that lifted the S&P 1.7% last week, to 1,386, only about 2.3% off its 2012 high, the benchmark is up 10.2% in 2012. This is among the best runs of any major market, with the EuroStoxx index off … Read More
The bad-news bulls are back! Every newly uncovered scandal, every morsel of hideous fraud, every fresh revelation of bank mischief and regulatory lapse that normally would make investors’ stomachs churn instead seem to conspire to embolden them to buy equities.
The same investors who it … Read More
Every four years, both major U.S. parties and the political media feed the idea that Election Day is a crucial pivot point for the direction of the country and its economic fortunes. This time around, the overheated pre-game pep rallies and advance coverage of the … Read More
Commenting on the June employment report released Friday, President Obama pointed out that private-sector employment has grown by 4.4 million jobs over the past 28 months. He was right, of course. But he might have added that another 4.5 million jobs have to be tacked … Read More