Have investors gone completely crazy? Or have they just gotten smarter? The S&P 500
“The banks have gotten so much better in the last few years in terms of capital, yet their ratings keep going down … the ratings were so wrong before,” explained Morningstar credit analyst James Leonard, calling the downgrades a “mea culpa” from Moody’s. In other words, the downgrades simply reflect the actual market value of the banks. And, after yesterday’s sell-off, investors saw value.
Despite German business confidence shrinking to its lowest level in over two years, according to Munich-based ifo institute, the market performed rather well today.
In the U.S., Walgreen
Also leading the charge forward was Netflix
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