The market surged on news that European leaders reached an agreement to contain Greece's debt crisis. Gains were also fueled by rumors that the White House and House Republicans may have reached an agreement regarding the country's deficit problems. Intel beat estimates but lowered outlook. The chip giant dropped 1%. To our estimates, bullish sentiment fades. Positive news are already factored in the market. WE expect a mild correction soon.
Friday, July 22, 2011
Jumped on debt talk
The market surged on news that European leaders reached an agreement to contain Greece's debt crisis. Gains were also fueled by rumors that the White House and House Republicans may have reached an agreement regarding the country's deficit problems. Intel beat estimates but lowered outlook. The chip giant dropped 1%. To our estimates, bullish sentiment fades. Positive news are already factored in the market. WE expect a mild correction soon.
