Any little good economic news makes the media go crazy. They haven’t abandoned the Obama Boom theme. Wall Street had a rally this week during light trading. Some minor good economic news and the resolution of the Greek bailout pushed the markets up. On cue, the media proclaims the Obama Boom is on track!
(Reuters) – U.S. stocks ended a volatile quarter on Thursday with their biggest four-day rally since September as positive economic data and a temporary resolution of Greece’s debt crisis indicated further gains in July.
Midwest business activity showed surprising strength this month, lifted by a jump in new orders, the Institute for Supply Management-Chicago said. That helped calm concerns about the economy that have weighed on markets for two months.
Overseas, Greece’s parliament approved measures to implement budget cuts and assets sales, making Greece eligible for financial aid to avoid a debt default.
[….]
The index is up 4.1 percent so far this week, its best four-day rally since September 2010.
“The resolution in Greece allows us to throw away one more question mark, and as we do that we become more confident,” said Peter Andersen, portfolio manager at Congress Asset Management in Boston.
“Managers are also using the occasion to trim their cash positions at the midway point through the year, meaning we’ll start July 1 with optimism.”
The Obama Boom, can’t you feel it? The media is no better than what Pravda was during Soviet rule in Russia. They are lying and jumping on any news to promote the Obama Boom lie.
Tags: Dow Jones Industrial Average, Nasdaq, Obama Boom, Progressive Propaganda, S&P500, Wall Street
