November 11, 2011
The S&P is up for the week. It has risen by 1.0% as of today since the October close.
The market has bounced around this week over concerns regarding Greece and Italy. By the end of the week both countries had announced new political leadership, which the market does like so far. There is a general perception that the new leadership is likely to deal with economic issues in a more realistic fashion when compared to the previous leadership, which was highly entrenched in both countries.
The other news of note this week was a decline in jobless claims for the week ending November 5th. New claims are at their lowest level since early April.1