It's not really clear there's any strong fundamental reason for the rally. The only conclusion is that there was a comment by the Exxon head that oil prices may be near a peak.
More Quotes from Michael Panzner:
Bond investors are discounting a slowing economy in the months ahead. Equity investors see a rebound ahead, and that instead of acting as a brake on the economy, the Fed's continuing hawkish stance is likely to serve as a sign that all is well, ... If you ask me, it sounds like at least one group of investors has been smoking something.Michael Panzner
There wasn't a lot of room for disappointment. It's going to have people reconsidering their perspectives on the outlook for the market going forward.
Michael Panzner
He said at some point Asians will bring funds home, which wasn't very helpful ... One response may be the Fed having to raise interest rates to keep the dollar from collapsing as a result.
Michael Panzner
The old 'buy the rumor, sell the fact' trade is in play now, and that will apply to the expected results set to come out,
Michael Panzner
If anything, it is a good time to be in the market based on past history.
Michael Panzner
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I like all those painters who loved and had a strong feeling for nature.
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Absolute space, that is to say, the mark to which it would be necessary to refer the earth to know whether it really moves, has no objective existence.
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