As our colleagues at Ohio State noted just this week, “with the constantly changing tone of the markets it appears as if anything is possible.” After the markets dipped on Wednesday, news came this morning that the American economy grew at a rate .3 percentage points higher than predicted and that jobless claims fell below 400,000 for the first time in almost two months to 391,000. Along with word that Germany, Europe’s largest economy, approved the expansion of the Euro bailout fund, stocks gained enough this morning to erase yesterday’s losses and to help out our portfolios a bit.
Georgetown team members are continuing with our respective strategies (M&A, leveraged ETFs, currencies, commodities, and earnings). Who knows where things will go from here, or what tomorrow’s news will do to the markets. We’ll make our bets, then we’ll see if we’re on the right side of the news.