Daily Investment Interpretations
December 3, 2009
The markets nose-dived today. The
NASDAQ Composite fell`11.89
to end at 2,175.14,
the Dow dropped 86.53
close at 10,366.15,
and the S&P 500 lost
Oil closed at
$75.74 a barrel, while
to close at $1,218.
The VIX rose 1.34
Apparently, today's late-in-the-day downturn was a result of the second Federal Reserve governor (James Bullard) this week warning that high unemployment won't keep the Fed from raising rates. With Chairman Bernanke on the hot-seat in confirmation hearings, with unemployment on the rise, and with disappointing news in the services and manufacturing sectors, traders might be a bit nervous about this kind of talk. Also, tomorrow's jobs report (Stocks make late-session drop on jobs jitters) may have some investors nervous.
Stock market futures are slightly negative tonight.
The next few weeks are the traditional time for a "Santa Claus" rally. On the other hand, some institutional investors may be booking their profits for the year.