2011 Beginning Where 2010 Left Off: With a Bang
2011 comes out of the gate nicely:
NEW YORK—U.S. stocks rose to fresh two-year highs on the first trading day of the new year, aided by data pointing to improving conditions in manufacturing and construction.
The Dow Jones Industrial Average jumped 110 points, or 1%, to 11687. The measure hit 11695.19, its highest intraday level since August 2008, and putting it on track for its fourth gain in the last five sessions.
We saw improving signs throughout 2010, especially in the latter half. After a long haul, things are turning around for the better, though we don’t think anyone is telling themselves that things are back to pre-recession numbers or mindset just yet. We still believe it will be a steady, slow progression out of the valley – which is exactly what we want. We don’t need a baseless (read: emotional) rebound only to suffer a sharp correction and whatever consequences that would bring. Slow, steady and smart: keep this on the right track and underpinned by real metrics.
Good news for a new year.
How do you see 2011? Do you share our optimistic views, or do you see a different picture from where you sit?
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