Nice week, ey? Just about everything that was supposed to go right did:
• the dollar had its biggest one-day gain in six years against the euro and is up for the fourth straight week
• crude oil is at $115 a barrel, its lowest since May 1
• the Fed kept the interest rate at an unthreatening 2%
• pending home sales got a 5.3% bounce, sheepishly saying that the housing market slide has slowed down a bit
Don’t get your hopes up too soon. The economy is still in decline: we’ve had highest unemployment rate in six years, and retailers’ outlook from Wal-Mart and Whole Foods show the Americans tightening their belts across all income spectrum.
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