Wednesday, February 14, 2007, 5:31 AM PSTHowever:
WASHINGTON (AP) The Commerce Department reports that retail sales, hurt by a big drop in auto purchases, were flat in January, the poorest showing in three months.
Wednesday, February 14, 2007, 5:40 AM PST
AUBURN HILLS, Mich. (AP) The Chrysler Group says it will cut more than 13,000 jobs as part of its restructuring plan.
Wednesday, February 14, 2007, 7:01 AM PST
WASHINGTON (AP) The Commerce Department reports that business inventories were flat in December, the poorest showing in 17 months.
Wednesday, February 14, 2007, 7:00 AM PSTTherefore, this Yahoo! Finance Market Summary:
WASHINGTON (AP) Federal Reserve Chairman Ben Bernanke says economy should grow modestly this year and that inflation, while ebbing, is still a concern.
Stocks rallied Wednesday as a lack of overly hawkish commentary from Fed Chairman Bernanke eased the worst of fears about a possible rate hike. Speaking before the Senate Banking Committee, Bernanke stated that "inflation pressures are beginning to diminish." He also said the Fed remains comfortable with rates at their current levels, easing recent concerns about the prospect of another rate hike and painting the goldilocks scenario the bulls were hoping for.
Something about all that just seems a little odd to me. There can be signs all over that the economy is tanking, but if the Fed says it's looking good, by golly, invest!
Want to invest? Apparently just listen to one person: Ben Bernanke.