The S&P 500 has been rallying in recent weeks, recovering all of the ground it lost in January and February. The sharp rebound has been impressive, inspiring optimists to claim that the old bull market has been revived and upside momentum is once again in the driver’s seat. Perhaps, but the true test awaits. Hanging in the balance is the question of whether the latest pop is a dead-cat bounce in a bear market or a genuine revival that makes fools of tactical asset allocators who turned cautious in recent months.
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● US economy ran below trend in Feb, Chicago Fed says | MarketWatch
● US existing home sales tumble in warning sign for housing | Reuters
● Fed’s Lockhart: April Rate Hike On The Table | RTT
● PMI: Eurozone growth turns higher for first time in 3 mos | Markit
● PMI: Solid service sector growth for Germany vs. slower mfg | Markit
● Eurozone Consumer Confidence Down for 3rd Straight Month in Mar | WSJ
● Uncertainty Still Hangs Over the Global Economy | Dallas Fed