Business Insider, The Daily Reckoning, discusses the midday turn on Wall Street yesterday, despite the continuing unrest in the Middle East.
The editorial is quoted as saying:
Net-net, US investors continue to exhibit very little anxiety about stock price trends. They continue to cling to US stocks like a baby clinging to a “blankey.” Presumably, these investors consider the recent events in the Middle East to be of transitory and/or minor significance. By extension, the resulting spike in oil prices must be nothing more than a pothole on the superhighway to robust stock market profits.