Stocks: Overdue for a Correction?
Despite what appeared to be failed breakouts by the major indexes over the last couple of weeks, the S&P 500 rebounded to a new recovery high last week while the Dow Jones Industrials, Dow Jones Transports, S&P MidCap 400, S&P SmallCap 600 and the Russell 2000 all surged to all-time highs. Bond yields backed off from their recent highs and crude oil prices rose sharply for the second straight week.
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