CNN is reporting in bold red headlines: Dow is at its highest for 2nd day in a row. Below, headlines are Bernanke’s and Fed Chief Hoehnig’s warning about the slowing economy. Walmart’s earnings were up only 1.3%, instead of 1.8% as announced earlier this week. If you look at what’s up in the Dow, only a few companies are benefitting. The tech stocks are down…Dobbs reports that the middle income people are squeezed and spending the highest percentage of wages on housing in our country’s history: 30%. So the headlines are paradoxical.
Do you think there is a plunge protection team that is buying up shares of just a few Dow companies, enough to make the entire index go ballistic and prove via the media that the economy is hot?