World | Are this week's share prices telling us something unexpected?

Home World Are this week's share prices telling us something unexpected?: by Jeremy Warner Reasons abound for co...

Reasons abound for continued gloom about the world economy - the apparently intractable euro-zone crisis, extreme imbalances at the heart of the Chinese economy, the possibility of another oil price shock. I could go on - but for the moment at least, they don't seem to be worrying stock markets. The Dow Jones Industrial Average, still the best barometer around of the state of the United States economy, this week reached its highest level since May 2008, while the technology-orientated Nasdaq Composite hasn't been as high as this since the immediate aftermath of the dot.com bubble back in late 2000. Even more representative indices such as the S&P 500 and the FTSE All Share are racing ahead. Could it be that share prices are telling us something? Stock markets can be some of the best lead indicators around, but they are also famously unreliable. There are plenty of rallies ...

Full article: http://www.todayonline.com/World/EDC120225-0000010/Are-th...