Well, if you are a common man like me, thats what you would think - "Investors are weird". 3 months back, when the market conditions were really bad, an increase in unemployment rate would push all the major stock indicators (DOW/NASDAQ/S&P500) to the ground. In the last 3 months, Fed/Govt. had taken a series of steps to restore the economy (reduced the interest rates, conducted auctions to pump a lot of money into the system, saved Bear Stearns, approved a stimulus package bill).
Today, the unemployment rate climbed to 5.1 percent, an all time high in the last five years. The recession fears are still lingering. Many of us fear that the economy is already in recession. However, the DOW lost just 16 points and NASDAQ gained about 7 points.
How can this be explained? The more I try to understand the market, the more I understand that I cannot understand the market :)
The investors are really weird. May be, they are wired to be weird ?!
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