So what causes the stock market to be at the price it's at? There's probably a trillion billion million variables. But yet, at the end of the day, there's always one nice sentence that explains why the market did what it did. "Stocks down today due to fears that the bailout won't happen quickly" or "Stocks up today on stronger retail sales."
Well today, we finally got an accurate statement. Yesterday, stocks dropped a ton. Today they're up a ton. I thought I was gonna see something about stocks going up because of optimism for Barack Obama. But instead, we got this line from AP:
"Investors acted Wednesday as if they had overdone it a day earlier. Wall Street snapped back from a steep sell-off with a rebound in the same financial stocks that were pummeled Tuesday."
I love it! Investors acted as if they had overdone it a day earlier. Perfect.
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