Some things up, some things down

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Doom and gloom headlines are often just that – with the bevy of space market information needs to fill and attention that needs to be grabbed.
Take three of today’s top stories; Wall Street’s general disappointment in Pfizer’s cost-cutting proposal, Steve Jobs’ inevitable legal troubles at Apple and a hit in Tech stocks aren’t necessarily indicative of market performance.
Apple’s stock is up over 2%, Pfizer’s stock is flat to up at the moment and even the tech market is only suffering from a couple companies that have issued earnings warnings, which have thus fallen, as in any market. Sometimes saying the obvious, like board room execs are connected, is stupid, sometimes not. Although the headline “Companies that expect higher earnings (Ameritrade) trading up, companies that expect lower earnings (Cisco, Symantec) trading down, day’s general trading far too flat or wobbly to ascribe a broader trend,” does fill space, it is probably only destined for the Onion.

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