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Post by King Sonic on Jun 7, 2012 0:24:49 GMT -8
www.bbc.co.uk/news/business-18349576"Shares on Wall Street have seen their biggest daily jump this year on hopes of a rescue for Spain's banks and a Federal Reserve survey suggesting the US economy was picking up. The main Dow Jones index closed up 287 points, or 2.4%, at 12,415. Markets in Europe also bounced higher, with the London and Paris exchanges up 2.4% and Frankfurt 2.1% higher. Comments from the European Central Bank that it was not inclined to provide more stimulus failed to stop the rally. " Signs of a possible recovery, or just another peak before a dip? While my portfolio is grateful, I know for a fact the market is fueled by a cycle of unfounded optimism and irrational fear. The shares will contract soon enough, I anticipate. Those who short-sell will make a killing, I think. At the very least, the Reserve reports of a recovering US economy are good. But how long before the optimism ebbs and we dip down yet again, as seems to keep happening?
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