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Stock Market up; "Happy days are here again" on the Big Story

Reported by Chrish - July 14, 2007 -

For the second day running John Gibson has done a segment highlighting the stock market's record high, today 7/13/07 with guest Tracy Byrnes of the New York Post (News Corp holding, not revealed). We can attribute the tabloid news show's newfound interest in Wall Street to the owners' announcement of a coming Faux Business Channel, but to what can we attribute this rally?
With video.

Here's Ms. Byrnes explanation: Because of all these mergers and acquisitions going on, there's less and less stocks available; a lot of money (much of it "pouring in from overseas"), a little bit of product, it will automatically push everything up!

Gibson asked her, in terms of everyone worrying about their own 401K or retirement plans, does this mean happy days are here again? According to Byrnes, if you "stay the course" and don't sell, yes, do the happy dance. The fundamentals of comapnies are really strong and there's no real reason for it to back off, so she expects to see this trend continue at least through the end of the year.

A lot of the money is coming from overseas, because our dollar is so weak overseas, foreigners can invest in our markets! They're getting a better interest rate than at home, so the money is pouring in, we're getting more and more from foreign investors.

Comment: We don't have the capability to put smiley faces within our posts, or I would have at the end of every sentence. Look for FOX to try to put a businesslike glaze on it's "news" as we approach the rollout of the FOX Business Network this fall. If this is what we can expect it may be the shortest run network ever.