The stock market rally worth about 300 points on the Dow over the past
three sessions is "totally irrational," according to the curator of the
Money Market Index economic barometer.
In particular, investor enthusiasm over Friday's monthly jobs report from
the government is misplaced because a large portion of the 163,000 new
non-farm jobs reported are temporarily and likely to vanish soon, says
Dan Geller, chief research officer of the index.
"The rally on Friday after the release of the employment figures and the
consumer confidence index really has no economic merit," Geller says.
"It's totally irrational."
READ MORE: http://www.cnbc.com/id/48533456
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