Reply #101: 3:12 EST Irrational Exuberance Continues - Rah Rah! [View All]

[UpInArms]

Dow 10,365.71 +80.45 (+0.78%)
Nasdaq 2,078.80 +22.80 (+1.11%)
S&P 500 1,189.26 +11.12 (+0.94%)
10-Yr Bond 4.461 -0.20 (-0.45%)

NYSE Volume 2,114,605,000
Nasdaq Volume 1,521,861,000

2:35PM: Stocks run higher and traders push all ten economic of the sectors higher and onto positive territory... The release of the Fed's Beige Book may have helped sentiment; here is a synopsis of the context... Economic expansion is moderate as costs pressures rose from energy prices which sent consumer confidence lower.... All Districts reported cost increases for energy, petroleum-based products, building materials, and shipping. Several Districts indicated that input cost increases are being passed through to retail prices...

Employment has been rising, and Federal Reserve Districts reported some tightening in labor markets, which warns of wage based price pressures ahead, but recent wage gains have been moderate. "Widespread" price increases for building materials add to the inflation concern... Manufacturing advanced in all Districts except St. Louis and Atlanta... Separately, the next FOMC meeting is scheduled for Nov. 1.NYSE Adv/Dec 1568/1652, Nasdaq Adv/Dec 1421/1510