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Not Even Scared of European Recession?

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By: Kevin Cook
November 15, 2011 | Comment(s): 6
Recommended this article (6)
SPX | DIA | SPY | IWM | VIX

US equity markets continue to shake off Euro debt crisis fears. Now this morning, they merely flinch at the Eurostat GDP report indicating combinded growth for the 17-nation eurozone was a paltry 0.2%.

Yes, we knew this number was coming. And the ECB even warned of a mild recession 2 weeks ago.

But, it's hard to imagine how the slow-motion recession they are slipping into won't become worse, especially as the ECB sits idly by.

In any case, S&P futures reversed off of 1,234 at 6:30 ET this morning and got back all the way to unchanged above 1,250. My guess is we test that low before the day is over.

Cooker

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