U.S. stock futures fell, as pessimism surrounding the world economy weighed on markets and mounting risk aversion lifted the dollar.
via online.wsj.com
This is the headline on the WSJ home page under the "Before the Bell" column today.
Look at the interpretation injected into this-all because overnight foreign stocks went down a little bit. Phrase like "pessimism surrounding the world economy" and "risk aversion" are used.
And what happened? The London FTSE was off 0.2% and the dollar rose (even though some in the markets have been moaning about it falling).
Just for one week, I wish the futures markets would go away and we could listen to economic reports without the obligatory comment about what a bunch of clueless economists expected to hear compared to what they actually heard.
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