Have I mentioned that the market has no memory from day to day?
We got an in-line jobs number, but the screwflation of the middle class continues apace. The average workweek declined by 0.1 hours and the average hourly earnings experienced no change.
YHOO's investment appeal:
* Increased signs that Yahoo! Japan will be monetized. (CFO Tim Morse commented this week that the company is discussing with Softbank the possibility of finding a solution that meets the needs of all Yahoo! Japan's shareholders).
* Improving core business trends (display and search).
* The growing value of AliPay -- Yahoo!'s crown jewel.
* Trading at under 2.5x EBITDA adjusted for net cash and value of Asian assets.
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