Tag Archives: GOOG
Don’t be evil! We’ll all be better off if Federal Reserve Chairman Ben Bernanke takes his cue from the Google slogan and leaves interest rates unchanged next Tuesday. We strongly believe that another rate hike at this point would amount to a serious mistake.
Seasonal headwinds are picking up on Wall Street. We got a snappy bounce in the stock market Tuesday as traders came back in high spirits from Independence Day. (Anytime terrorists don’t strike on a national holiday, investors seem relieved.) But today, with oil prices vaulting to a new record, the market backtracked, shedding most of Tuesday’s gains.
What? Google’s IPO jumps almost 20% during the first day’s trading and NASDAQ still drops? Something doesn’t compute. Or does it?
I think the little stock rally we’re in has further to run. If oil prices break down, it could carry well into September. But NASDAQ’s failure to respond to the buoyant Google offering is just one more yellow flag along the road.