Stock Market Euphoria, Steel Deal Headaches: Saturday US Briefing
Something for the weekend.
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Hello and a happy Saturday to you. Here in California we’re looking at rain, floods and most likely a mudslide or two. If you believe a rodent can predict the weather, there’s good news: Punxsutawney Phil pointed toward an early spring.
It already feels like springtime in the stock market. The S&P 500 climbed a cheery 1.4% in the past five days, its fourth straight weekly advance and a record high, powered by a blockbuster jobs report and bullish outlooks from Meta and Amazon.com. Still, some traders say this rally is on shaky ground. Initial public offerings haven’t looked too rosy either, with two of the three biggest debuts this year failing to excite investors.