For once in his life, Silvio Berlusconi put a stop to a good party

This may be the first time that Italian political phenomenon, press magnate and noted bon vivant Silvio Berlusconi has ever put a stop to a good party. His re-emergence on the political scene briefly stopped the rally in US stocks, which has been looking dead ready to crest above previous high-water marks set back in 2007. Check it out.

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But US stock market investors shouldn’t abandon all hope. Stocks actually posted a modest rise yesterday and are on track for another today, because an economic report showed home sales surging in January.

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If shareholders ignore Berlusconi and focus instead on the real strength that’s being seen in the all-important US housing market, stocks could easily keep climbing.

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