Indexes gapped up Friday and held steady most of the day as yesterday’s jawboning by the Federal Reserve continued forward a day as investors hoped for either continued stimulus or a new round of it. They have been trained on this since 2008 so it is no surprise that any drop in the stock market – even 6-8% – brings calls of rescue from central bankers. The S&P 500 gained 1.29% and the NASDAQ 0.98%. This is the fourth consecutive weekly loss – something that has not happened in 3 years.Continue reading
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