My you frosties sure pack in those days off work, dontcha?
S&P500 up 1.31% at 1,000.41. Hooray, it got there. Now what? Hey dudes, why stop at 17X? Shall we go for 18X PE in the middle of a recession? 20X? Isn’t this fun??
Freeport (FCX) up 7% at U$64.53 and having a great day at the office. PCU up 5.5% at U$27.18 and along for the ride, too. The reason is spot copper, of course, up at $2.70/lb. Who needs supply and demand anyway?
Fronteer (FRG) up 4.8% at U$3.94 on middling volumes and a taste of things to come for tomorrow in Toronto.
Petrobras (PBR) up 5.3% at U$43.43 as crude crosses U$70/bbl again. All Bovespa stocks having a great day, in fact. All South American indexes, as it happens.