Leap Day was a loser as Federal Reserve Chairman Ben Bernanke put the word out that a better economy means more stimulus is less likely. Not exactly a shocker and arguably one of those good problems you hear about.
The sentiment from Big Ben spooked some but this wasn't the mass exodus the bears (and even some bulls) have been expecting, and February goes into the books with a solid 2.5% gain for the Dow Jones Industrial Average, putting the blue chips up 6% year-to-date and five months in a row.
S&P Capital IQ is still looking for a near-term decline of 3-5% in the S&P 500 (up 8.6% so far in 2012) but the firm says the index could push past its year-end target of 1400 before that occurs. It's advising folks to trim their stock holdings, which mutual fund investors have appartently been doing of late."
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