STOCK MARKET UPDATE
Updated following each market day
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The popular averages closed well to the upside again on Tuesday. Existing home sales increased in September. A news report of the European Central Bank possibly considering a bond buying (quantitative easing/money creation) program to fight deflation may have had a positive effect. Meanwhile, corporate earnings reports are the main market movers, and a good one from Apple (AAPL + 2.7%) helped the NASDAQ. It and Harley-
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The recent high volatility and trading volume may have heads spinning. Those who become especially dizzy often get flushed out at market lows during Octobers. This may have caused a great many Baby Boomers and their elders fearful for their retirement nest eggs to now be sitting in fixed income investments that pay next to nothing. Those who sold stocks recently may have done so near another typical October market floor. Now they are sitting on a horde of cash that could fuel the usual extended rally during the cooler half of the year. Normally there must be an emotional component to set up a meaningful bottom. Fear of the spread of Ebola might have been that scare factor. That particular concern may be abating as investors now review the parade of corporate earnings reports.
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