Focus on Just 1 Thing
Italian bond rates eased back under the key 7% level on Thursday. This allowed stocks in Europe and the US to gain back a little of the major losses from Wednesday.
Unfortunately those Italian bond rates are still on the cusp of dangerous territory. And if you want to focus on just one thing right now to judge where the market will go… then it’s about these rates. If they move higher… it spells TROUBLE.
On the domestic front, we enjoyed a great Jobless Claims report at 390,000. That is the best showing since April. Too bad it doesn’t matter that much given all the drama still going on in Europe. If and when we can stop focusing on them, investors will be delighted with the economic gains here and attractive stock valuations.
Comments are closed.