Exact(19)
Trading in U.S. index futures suggested Wall Street stocks would open with a strong bounce into positive territory.
Figures have shown the UK growing at a faster pace than first thought and the service sector showed a strong bounce in February.
But after opening with a strong bounce Tuesday, stocks gave back some of their early gains as investors remained skeptical about the strength of the economy and saw a cloudy outlook for the euro zone.
That reputation was shredded when the Major government surrendered to the power of financial speculation and, despite the strong bounce in the economy between late 1992 and May 1997, voters neither forgave nor forgot.
Nominal GDP growth is running at its slowest for decades, and firms' pricing power is constrained by excess capacity.Not only do stockmarket bulls ignore valuations; they are betting on a classic, "V-shaped" economic recovery, with a strong bounce in output and profits.
The VIX's retest and strong bounce from the 40-week moving average is not the only worry for the bulls.
Similar(41)
His party's strategists think he can take control of the chamber this time.Mr Harper will run on his economic record, touting his popular stimulus programme as the cause of Canada's resilience in the world recession and its strong bounce-back.
The economy may yet avoid recession, but hopes of a quick, strong bounce-back have faded.One reason why interest-rate cuts may have been less effective than expected this year is that they have actually done little to ease financial conditions.
The prospect that the Federal Reserve will continue raising interest rates — a step it took in December for the first time in nearly a decade — may also weigh on the markets and complicate the odds of a strong bounce-back in the new year.
Look for a strong bounce-back from the bond market's funk when the Energizer Bunny economy slows, which should happen by the fall.
More important, however, there has been no strong bounce-back.
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