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Daily State Of The Markets: So, Greece Is Not The Word?

To be sure, this market has been all about oil recently. While there definitely have been other distractions, it has become quite clear that Wall Street's trading machines had joined the movements of oil and stock prices at the hip. And although one could argue that the dollar and bond yields are also part of the correlation trade that has been occurring day in and day out this year, the bottom line has been that when oil went down, stocks went down, and vice versa.

But on Wednesday afternoon, it looked as though someone had flipped the switch on the correlation trade. Stocks were suddenly moving higher late in the day while oil was holding to a pretty big dive (to the tune of -8%).

Apparently none other than the Oracle of Omaha himself had provided some upbeat words about the outlook for the good 'ol U.S. stock market.

Just… Read More …