NEW YORK ( TheStreet) -- Whenever a central bank announces a quantitative easing move, stocks have rallied. These rallies are not based upon improving fundamentals but are the result of market speculation.
Over the past two weeks we have seen some weaker than expected economic data and earnings warnings from benchmark companies. This real world information shows traders and investors that global quantitative easing moves are not helping the global economies.
Last week's earnings warnings in the transportation sector from FedEx (FDX - Get Report) and Norfolk Southern (NSC - Get Report) caused the Dow Transportation average to plunge 305 points last week, a loss of 5.8%.
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