This excerpt from the wires today is interesting:
A stock bounce was hardly unexpected, though, after the Dow lost nearly 240 points Monday on worries about the sagging financial sector. Wall Street is torn: Energy prices, if they continue on their downward path, could provide big relief to consumers and in turn help the economy, but credit losses keep mounting at the nation’s major banks. The result is big swings in the market but little consistent direction. “We’re living from one piece of news to the next,” said Alan Gayle, senior investment strategist for RidgeWorth Capital Management. The market’s volatility is likely to continue unless it gets further evidence that oil prices are, indeed, on their way down, and that banks have already seen the bulk of their losses.
That poor reporter. He has to write something. He has to try and paint word pictures to explain volatility, but it is clearly a struggle for him. I am not sure how a reporter can wake up excited each day to go to a job that requires him to literally make stuff up to justify random price movements.