2008-05-19 — nakedcapitalism.com
The stock market is up so far today on mixed readings of the tea leaves. The Conference Board's index of leading indicators rose unexpectedly, which elicited some positive reports, but Reuters was not impressed, noting that the 0.1% rise showed weakness but not a formal recession. The Wall Street Journal attributed the rise to analyst upgrades of tech stocks and a softening of oil prices.
Warren Buffett, however, is not convinced the US economy is in the clear, discounting cheery talk that the credit crisis is soon to be over.
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