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Good Times, Bad Times

Daily Recap

World stock markets turned in a strong performance today, starting with modest gains in Asia.  European markets carried the move forward, with London up 0.9% and Germany up over 2%.


Then US markets opened, and trended higher throughout the session, closing on their highs.  The Dow Industrials were up over 300 points, with the S&P up 2.4% and NASDAQ up nearly 3%.


The source of today's euphoria?  A more tangible sense that world oil producers will actually reign in supply, based on comments out of Russia and a number of other big producing countries.  Crude oil finished well over $34/bbl., leading oil company shares to one of their best days all year.


On top of that, US investors were encouraged by a report from the Institute for Supply Management that American manufacturers were doing worse, but at a slower rate than before.  And this passes for good news?  Well it does - when ... Log in or subscribe to continue reading.

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