Stocks Vertical, Economy Flat, Outlook Fraught

Just before noon today stocks went vertical, but why not. The HFT machines were trawling for all time highs and, in fact, hit the ultimate jackpot. Namely, they finally pushed the NASDAQ above the vertiginous heights (5132) it achieved back in March 2000 at the peak of the dotcom frenzy: By contrast, a few hours earlier Caterpillar—-a true bell weather […]
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