Economic data breeds a more upbeat investor

Is it the first outbreak of tinsel and Christmas jingles or the odd ray of sunlight through the rain? Can you detect just the faintest signs of confidence returning to the markets? It is so elusive that it almost tempts fate to mention it at all, but the deep gloom of the last few months appears to be lightening. There is nothing like an upswing, or even a turnaround, in prospect. It is just that the outlook appears to have stopped getting worse. Instead of endorsing every downbeat projection with extra warnings, analysts seem to be allowing the possibility that, on balance, things could ...