Market Minute on Finance Friday

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Financial markets had a series of relatively quiet days, punctuated by a mini-crash resulting from the hacking of a Twitter account used by the Associated Press. The hoax, which reported an attack on the White House and injuries to President Obama, caused the equity market to plummet.

Market Minute on Finance Friday

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The saber rattling from North Korea was more exciting that anything that happened in the financial markets this week, as equity markets basically treaded water, lingering around their recently set recent record highs.

Treasury markets were a bit more interesting. Job market data delivered some bad news, with the pace of weekly initial jobless claims modestly higher than last week. Bad news for the economy is good news for Treasurys, as investors rush for the perceived safety of government bonds when times get tough.

Following a fantastic first quarter, we would not be surprised to see the stock market take its time and even move backwards a bit before resuming its upward motion. Keep in mind that time works on behalf of patient investors, as the long-term trend is generally upward.

So don’t worry about the daily movements of the market or the exact position of the S&P in relation to the record high. Make investment decisions based on your personal financial situation and look out for our next market minute on Friday April 12.