There has been a type of sober reality blanketing the market this week. Hard news has come through, from new projections on how long a full recovery will take, to lingering problems in the banking system, to harsh news on employment, and to a potential downgrading of the USA's credit rating.
This morning all of that is relaxing with futures up and the market expected to open higher. That unfortunately does not translate into a day of gains. but with the long weekend ahead and the market closed on Monday, maybe this will be a decent day. At least the intense volatility of the recent past has eased a bit, for now. The new keyword is "sober."
Reuters: Stock futures rise as Moody's reassures, Sears jumps
...Moody's eased fears about the credit rating outlook for the United States, and oil prices bounced higher, lifting energy shares like Exxon Mobil.
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