Today’s gains have been driven by very selective memory, which probably isn’t the most logical approach to trading.
There’s no doubt that the NY Fed Manufacturing Index gains were impressive, the flood of buyers keep citing that as a great reason to get involved.
Meanwhile, a blind eye is being turned to Citigroup’s poor results and the new 2 year low on Chinese productivity, both of which will arguably have a much wider-reaching impact.
The DJIA is currently +123 at 12544 and FTSE 100 +25 at 5682.
Article by Spreadex.
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