If $AAPL - Apple hadn't rallied after earnings, would the stock market be much lower at this point? We have seen Spain go into a recession and its unemployment rate hit near 25%. China is slowing. The US GDP came in light and new jobless numbers appear worrisome. The Netherlands government collapsed.
I'm typing this late night and I could probably hit the Google headlines and find more bad news.
They say the market likes to climb a wall of worry. But is this worry or reality? I get the feeling if Apple wasn't selling so many iPhones and iPads, the market would be much lower.
Economic Slowdown Will Get Worse
http://www.thestreet.com/story/11511197/1/economic-slowdown-will-get-worse.html
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