There is still plenty of value in the old economy
The first week of February could have ended in a bloodbath for US equities, some of which had been on life support since Tuesday. On Friday morning, as the session got under way, even fairly seasoned investors were feeling jittery. They know that days like this can end with sharp moves, in either direction. Relief then, Friday 6 February went the right way: +2% for the S&P 500, +2.2% for the Nasdaq 100, +2.5% for the venerable Dow Jones and +3.6% for the Russell 2000.
