With nothing new and earth-shattering from Gentle Ben, stocks are going about their business, rallying hopes that the uncertainty surrounding Lehman Brothers will come to an end. Comments from Buffett that he is not now short of dollars is getting some of the credit as well. If anything, Buffett’s “this too shall pass” attitude toward present financial turmoil seems a more likely catalyst.
Oil is lower this morning as the dollar regains its bearings with gold a bit lower after large rallies the last few days. EUR/USD trades at 1.4815 while USD/JPY trades just below 110.00
