This may be the first time that Italian political phenomenon, press magnate and noted bon vivant Silvio Berlusconi has ever put a stop to a good party. His re-emergence on the political scene briefly stopped the rally in US stocks, which has been looking dead ready to crest above previous high-water marks set back in 2007. Check it out.
But US stock market investors shouldn’t abandon all hope. Stocks actually posted a modest rise yesterday and are on track for another today, because an economic report showed home sales surging in January.
If shareholders ignore Berlusconi and focus instead on the real strength that’s being seen in the all-important US housing market, stocks could easily keep climbing.
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