Peter McKay: London is Calling Again

By: Peter McKay

Because there was a big gain in the stock market today, I got a few calls from broadcast outlets seeking commentary. This has become a semi-regular phenomenon since the fall, with general-interest news shows taking an increased interest in the market and then effectively “borrowing” some expertise from the Wall Street Journal whenever something major happens.

News today was that the market was up almost 190 points to a new high for the year, helped by companies reporting better profits than expected. (Subtext is that everyone is wondering whether this means the recession is over. Short answer: no.)