The market is rising today as people are becoming convinced that the economic recovery is real and not just the beginning of a double-dip recession (which is actually worse than double-dipping your chip at a party and not nearly as exciting as a good ATM double dip). Chicago Fed Chief Charles "Chuck E." Evans maintains that inflation will be tame (woohoo), unemployment will remain high (boohoo), and the Fed will keep rates low to help stimulate the economy (market voodoo). Meanwhile, the market is betting on inflation as it can actually count the amount of dollars the US has printed/borrowed/pulled out of a hat during the recession. The inflation debate now promises to be one of the three most hotly argued questions over the next several months along with the always fun post holiday "Does my ass look fat in these jeans?" and "Brittany Murphy: Cocaine, anorexia, or who gives a shit?"
In market news, Intel (INTC) was upgraded by Barclays to "overweight" as the analyst claims the market has been too harsh in dinging INTC for potential peaking gross margins, an FTC investigation, and the senate's failure to ratify Moore's law. Of course this has led investors to wonder, "Who the fuck is Barclays??" Also moving the market today is french company Sanofi-Aventis who is buying toiletry and fragrance producer Chattem in their quest to end France's 2000 year old assault on proper hygiene. The French buying a hygiene company is a bit like the State of Alabama buying Encyclopedia Britannica or Shawn Kemp investing in Church and Dwight, but one has to start somewhere.
The next few days should see relatively light trading with managers locking in their gains and taking off for the holidays so be careful about interpreting market moves, though be more careful about interpreting the results of your breathalyzer test.