Good News ... Generally Speaking

Last Friday, folks were all abuzz about the good week Wall Street had.

The news wasn't especially good today as the Dow Jones lost 122 points (1.7%) — but, in the context of the entire week, the stock market rose for the second week in a row. That's the first time that has happened since last May.

Richard Campagna, chief investment officer at 300 North Capital, was philosophical about it all. "We were up sharply in just over a week, so giving something back is to be expected," he said.

He also cautioned people to bear in mind that things have been "less bad" on Wall Street this week — but that doesn't mean they have been good.

"It's not like the world has suddenly changed," he said.

That may be true, but these days, you have to find positive news wherever you can.

And having two straight weeks of gains in the stock market — even if investors have pulled back in the last couple of days — beats what we've been used to.

Let's hope we are still talking about gains this time next week.