Much like it was the Charlie Gasparino market a few years back (remember the nearly daily rumors about solutions or bailouts for MBIA and Ambac? they now seem quaint), it is now the Steve Liesman market - he says bailout, the market cheers... he says not so fast, the market cries.
It's all become a bit ridiculous, but this is what happens when the entire market is based on politicians and central bankers.
Nice 20 point drop there in the last hour or so on the S&P 500 - would have been 25 if not for that U-turn in the closing minutes.
More "constructive" action (tongue in cheek)....
So tomorrow put your chips on black or red! Or what Steve Liesman reports!
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows