Market Snapshot for September 16th, 2009Wednesday, September 16, 2009
The stock market is at 2009 highs today and gaining strength in part by comments from Warren Buffet - stating recently that we have seen the worse of the housing crisis and that the US economy has bottomed out. Let's hope the famous billionaire investor is right. Mr. Buffet's comments were inline with Fed chairman Ben Bernanke's comments yesterday in which he stated the recession is technically over. In the same breath, he stressed that recover - especially in the job market, would be slow.
The year over year core rate of CPI (Consumer Price Index) is up 1.4% helping boost the view that no inflation is on the horizon. This is good news for the Bond market and should help improve mortgage rates!
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