Suitably Flip

Stimulus Bill Sedates Market To Lowest Levels Since November

With the exception of November 21st, most major indices are now lower than they've been in six years. The Senate having voted in favor of the stimulus bill's conference report late Friday night, this is the first opportunity U.S. markets have had to display their resulting glee.

In the six weeks following the November bottom, stocks actually mounted an impressive recovery.  By January 6th, the Dow Industrials, S&P 500, and Nasdaq had shot up 19%, 24%, and 26%, respectively.

Alas, that was the day the stimulus bill was introduced in the Senate and there ended the rally.  In the weeks since, we've given up the bulk of those gains.

Update:  Michelle notices a similar phenomenon.

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Stimulus Bill Sedates Market To Lowest Levels Since November

With the exception of November 21st, most major indices are now lower than they've been in six years. The Senate having voted in favor of the stimulus bill's conference report late Friday night, this is the first opportunity U.S. markets have had to display their resulting glee.

In the six weeks following the November bottom, stocks actually mounted an impressive recovery.  By January 6th, the Dow Industrials, S&P 500, and Nasdaq had shot up 19%, 24%, and 26%, respectively.

Alas, that was the day the stimulus bill was introduced in the Senate and there ended the rally.  In the weeks since, we've given up the bulk of those gains.

Update:  Michelle notices a similar phenomenon.