Pessimism over Europe's debt crisis have been whipsawing stocks. Last week, bond yields spiked amid a series of disappointing debt auctions, which further heightened fears and sent stocks about 5% lower. In the same time, economic data is getting better in the U.S., even in the job market. Total spending over the four-day weekend following Thanksgiving reached a record $52.4 billion, up 16% from $45 billion last year, according to a survey by the National Retail Federation released Sunday. However, the market is going to continue to be driven by what's happening in Europe.
Monday, November 28, 2011
Looking for the bottom
Pessimism over Europe's debt crisis have been whipsawing stocks. Last week, bond yields spiked amid a series of disappointing debt auctions, which further heightened fears and sent stocks about 5% lower. In the same time, economic data is getting better in the U.S., even in the job market. Total spending over the four-day weekend following Thanksgiving reached a record $52.4 billion, up 16% from $45 billion last year, according to a survey by the National Retail Federation released Sunday. However, the market is going to continue to be driven by what's happening in Europe.
