Even Former Bear Says Market Looks 'Just Right' -- for Now
SAN FRANCISCO -- A frightening specter was spotted on Wall Street today. No, it wasn't inflation, deflation or even some shirtless fat guy scrambling to get another free doughnut. It was (cue haunting music) Goldilocks.
The notion of a "Goldilocks economy" has risen from the dead amid optimism that the Federal Reserve 
is going to revive the economy but inflation is under control (even if
looks can be deceiving). Such hopes were advanced by today's economic news: Jobless claims fell for the second straight week, while the Conference Board's index of leading economic indicators rose 0.1% in April, reversing declines of 0.2% in both February and March. Conversely, the Philadelphia Fed's survey of regional manufacturing activity fell for a sixth straight month.
As Goldilocks re-emerges from her tomb (covered in petrified porridge, of course), portfolio managers are simultaneously dealing with another relic of the bygone boom: Performance anxiety following yesterday's monster rally. ...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,388.90 | 1,105.98 | 2,194.35 | 34.83 |
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