Psst… hey, did you know that US stocks snapped a win streak on violent Greek protests? Hmmm, well did ya? That’s what MarketWatch’s front page headline is declaring after the close.
How about this alternate headline?
US stocks snap win streak on slightly overbought, post-hype recovery momentum; market experts say it is a normal process for a slightly overbought market
Doesn’t have quite the same panache, does it?
The article also features Janet Yellen’s mug and this…
“Yellen seems very committed to raising rates and is doing everything she can to lessen the blow,” said Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research, in a telephone interview.
This age of transparency (i.e. Jawbones on parade) is a boon for the mainstream media, who eat up everything they utter and feed it out there as if it is news. Just last week some Jawbone was talking rates into 2016. The volatility that ensues does nobody any good other than the MSM, as it chases market sentiment around on a daily basis.
Meanwhile, Intel beats and Netflix skies on earnings. Too funny. But wait, there’s still those violent Greek protests to deal with. Ha ha ha…
Oh and INTC’s beat does nothing to hurt our boring headline from yesterday, does it?
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