"Selling in May" may not be a great strategy, but there's no getting around the fact that the Dow Jones Industrial Average
Top retailers ring up a small rally
Also rallying was Sears Holdings
Spain and Greece continue to put fear into the markets. Greece teeters on the edge of remaining in the eurozone and cobbling together a government, and the Fitch ratings agency downgraded Greek debt to the lowest possible rating without being in default. Moody's, on the other hand, downgraded 16 Spanish banks, and Spanish government debt yields have crept into territory last seen in November. The European STOXX 50 (INDEX: ^STOXX50E) lost 1.31% today.
Initial jobless claims for this week were slightly higher than expected, coming in at 370,000 over expectations of 365,000. These numbers keep telling the story of the slow economic recovery and failed to give investors any optimism for future growth.
The biggest news story this week will occur tomorrow, with Facebook's IPO. The king of social media will begin at $38 per share, giving it a valuation of about $104 billion. As Fool colleague Alex Planes writes, "to become the next Microsoft, in terms of share-price appreciation, Facebook would have to someday be worth $3 quadrillion." That's a lot of Spring Break picture albums.
Every bit of news might nudge stocks up or down for one day, but that doesn't mean much for long-term investors looking to outperform the market. With a solid company, an investor pays no attention to the everyday changes in share price but instead looks for long-term value creation. To reveal three such solid stocks that will help you construct your retirement portfolio, along with the habits needed to build wealth far into the future, read our free report: "3 Stocks That Will Help You Retire Rich." It's free!
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