![]() ![]() "With inflation below target and with unemployment still quite high-and by some measures with unemployment in some ways being even too optimistic a measure of the state of the labor market-both sides of our statutory mandate are suggesting that we need to maintain a highly accommodative monetary policy for the foreseeable future and that's what we intend to do." Between Thursday's positive jobless claims numbers ( see below) and Bernanke's encouraging words, stocks surged. The S&P 500 and the Dow have reached their highest levels ever as the Fed chairman entered his second day of congressional testimony, saying that monetary policy will stay consistent for the time being and that there is no set schedule for tapering. One day after Ben Bernanke's assuaging words on tapering the Fed's bond buying program and the market is back to showing its strength. I'm saying this is a buying opportunity because the numbers were terrific, PayPal was terrific, but they were cautionary going forward … because they wanted to rein in the bulls." "We are bullish about the future and the business and we are in a great market and we have forecasted mid-teens growth for the second half of the year." ![]() At least one market watcher thinks the dip is a buying opportunity, however. There was also some talk that eBay's new fee structure has alienated some sellers. Some analysts have responded by lowering their ratings on eBay because the expected rise in demand for its services domestically probably won't make up for a slowdown abroad. EBay's shares sank on Thursday shedding around seven percent on a disappointing third-quarter forecast. ![]()
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