Just got the following email, which is circulating in the City, from a trader:
There is an analyst cheat sheet doing the rounds on how to react to data and market releases in the current market.
Weak data - Fed ease, stocks rally.
Consensus data - lower volatility, stocks rally.
Strong data - economy strengthening, stocks rally.
Bank loses $4 billion - bad news out of the way, stocks rally.
Oil spikes - great for energy companies, stocks rally.
Oil drops - great for consumer, stocks rally.
Dollar plunges - great for multinationals, stocks rally.
Dollar spikes - lowers inflation, stocks rally.
Inflation spikes - will inflate all assets, stocks rally.
Inflation drops - improves earnings quality, stocks rally.