The day of Bernanke’s reappointment, the stock market reached a new Obama-era high. My FOX Index is also at a recession era peak, 56.1% of the way from its March 9 bottom to its pre-crash healthy level (12,000 Dow, 1,300 S&P, 2,500 NASDAQ). Most significantly, a housing recovery may be underway. Though home prices are still 30% below the mid-2006 peak, the Case-Shiller's U.S. National Home Price Index is now positive; prices in the second quarter posted their first quarterly increase in three years. Furthermore, consumer confidence in August rose to the highest level since the recession began.
Green shoots, yes.
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