Daily Investment Interpretations

November 24, 2010

2010-11-24 (Wednesday Night): Stocks rebounded today to approximately where they were before yesterday dive: Street cheers jobs data. After falling  37.7 points (-1.46%) yesterday, the NASDAQ Composite rose 48.17 points (1.93%) to end the day  at 2,543.12. The Dow added 150.91 points (1.37%) to close at 11,187.28, and the S&P 500 dropped 17.62 points (1.49%) to end at 1,198.35. Oil rose to $83.79 a barrel, and Gold slipped slightly to $1,373. The VIX dipped 1.07 to 19.56.
    There was good news (U.S. jobless claims fall, Consumer-sentiment index rises to 71.6, and Slow but sure economic growth: Larson (audio)), and bad news (New-home sales drop and Orders for durable goods decline), and there was news that might be good or bad (Year-over-year core inflation at record low and Arrest made in trade probe).
    This story about Ireland's austerity measures, Ireland details austerity plan amid bond turmoil, might be taken in concert with Paul Krugman's discussion of this topic: Permanent Link to Lands of Ice and Ire. T'would seem that austerity has ill-profited Ireland. 
    Ireland, the good and the bad  Nick Godt argues that angst over European sovereign debt problems will derail the year-end rally that most are expecting.