Polar bears weren't the only lumbering carnivores declared threatened this week. Wall Street bears were scarce as well.
That's because some benign inflation news, a major high-tech merger and a continued rally in U.S. stocks combined to put investors in a good mood for the first time in awhile, with some even arguing that we're going to get out of this mess without a recession.
I'm not sure I'd go that far. We're probably already in a recession of some sort. Sure feels that way, even if it doesn't meet the technical economic criteria many use to declare these things. But the surge in stocks to their best levels since the beginning of the year has sure shut the gloom-and-doom crowd up after several months of pessimism....MORE
And,
Picking potential winners -- if euro loses its steam
It's been a rough earnings season for European companies stymied by the euro's first-quarter surge to a record high against the downtrodden U.S. dollar.
And,
Picking potential winners -- if euro loses its steam
It's been a rough earnings season for European companies stymied by the euro's first-quarter surge to a record high against the downtrodden U.S. dollar.
Now, however, some analysts believe the euro -- trading near $1.55 after jumping to a record high above $1.60 last month -- has peaked. If so, it would seem some European companies that record revenue in dollars may be in for some much-needed relief thanks to any retreat by the euro.
A rising currency is rough on exporters and others who must compete overseas because it makes their products and services more expensive to foreign buyers. This earnings season has seen a who's-who of European juggernauts complain that the euro's latest push upward pinched profits....MORE
