Daily Investment Interpretations
October 5, 2009
2009-10-5: The market indices rose today. The NASDAQ Composite added 20.04 points, (0.98%) to end at 2,068.15, the Dow reclaimed 111.85 points (1.18%) to finish at 9,599.75 and the S&P 500 gained 15.23 points (1.49%) to end at 1,040.44. Oil ended at $70.36 a barrel, while gold rose $14 to $1,018. The VIX fell to 26.90.
Peter Brimelow has written Despite setbacks, China bull gets more frisky, discussing Cabot's China and Emerging Markets Report, while Craig Stephen's Tipping point of West's decline, rise of East?.explores when and/or whether China, India, and other SE-Asian nations will, or have already taken over world economic leadership.
Meanwhile, we'll have to see whether this bounce means that this 5% correction has run its course, or whether it will be followed by another down-leg in the markets. (The S&P 500 rose 17.6 points on September 28th, only to be followed by another four-day wave of selling.) One difference from the end of September: quarterly earnings reports are about to start flowing.