2009/10/06; The stock market rallied today because of a slightly better than expected ISM Services number. Considering how much ‘stimulus’ the government has given to the FIRE sector it should be doing slightly better than the real economy.
Another reason the market rallied in New York today was a bullish call on the banking sector by a Goldman Sachs analyst.
Here is a somewhat different analysis of the situation by Chris Whalen of Institutional Risk Analytics. Chris believes that he sees strong evidence that the fourth quarter in the banking industry is going to be a bloodbath.