Wall Street Takes A Vacation (From Reality)

Posted In: Commodities, Currencies, Dollar, Energy, Natural Resources, Oil, Stocks, Wall Street

From the Wall Street Journal’s MarketBeat Blog this afternoon:

With the Federal Reserve meeting out of the way, along with most of the important earnings reports, many participants are ready to take a bit of time for vacation, and they leave with a smile on their face after the dollar rebounded, oil prices slumped, and the Dow industrials put together a 300-point rally to close out the week. All major indexes gained at least 2%, led by the chipmakers, banks, retailers and cyclical stocks.

The following saying by Mark Twain comes to mind:

All you need in this life is ignorance and confidence; then success is sure.

Enjoy your time off, Wall Streeters. Methinks there will be hell to pay in future days.

Talking Heads, “Road To Nowhere” (1985)
YouTube Video Link

Source:

“Four at Four: No Worries”
David Gaffen
Wall Street Journal (MarketBeat Blog), August 8, 2008

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