Reply #43: Buy fairies, sell on ghouls? Reuters's take:

[Ghost Dog]

U.S. stocks rise on IBM, Fed growth comments

NEW YORK, Feb 26 (Reuters) - U.S. stocks rose on Tuesday on news of a $15 billion buyback plan from IBM and on remarks by a Federal Reserve top official that the weak economy is a bigger worry than inflation, while upbeat bank results drove European shares higher.

Crude oil surged past $100 a barrel in the U.S. and set a record price in London, lifting the shares of oil companies and helping push all three major U.S. stock indexes up more than 1 percent.

Oil drew support from cold weather in Europe and the United States, as well as the view from the president of the Organization of Petroleum Exporting Countries that the group will not raise output at its meeting next week.

The vice chairman of the Federal Reserve, Donald Kohn, speaking in North Carolina, said the danger the U.S. economy will weaken further is a bigger worry than higher inflation. His comments suggested the Fed will cut interest rates further, pushing the dollar to extend losses.

U.S. stocks moved higher after International Business Machines Corp (IBM.N: Quote, Profile, Research) announced its buyback program, offsetting dire U.S. economic data that pointed to a sharp jump in inflation, a plunge in consumer confidence and more bad news from the beleaguered housing market.

/... http://www.reuters.com/article/marketsNews/idINN2634448020080226?rpc=611

(And, note plunging dollar).