Daily Investment Interpretations

November 29, 2010

2010-11-29 (Monday Night): The markets ended down slightly, which is pretty spectacular considering how far down they were during the day: Stocks stage late-session comeback, Euro-jitters continue. The NASDAQ Composite gave up another 9.37 points (-0.37%) to 2,525.22. The Dow dipped 39.51 points (-0.36%) to close at 11,052.49, and the S&P 500 slipped 1.64 points (-0.14%) to end at 1,187.76. Oil rose to $83.88 a barrel, and Gold slipped slightly to $1,365. The VIX fell 0.69 to 21.53.
    The S&P 500 dipped to its support level of 1,178 today before recovering later in the day. Tomorrow... ?
    The Irish bailout apparently didn't satisfy investors. (Paul Krugman has this to say about it: Permanent Link to Not Waving But Drowning, and Eating the Irish.) Meanwhile, the contagion is spreading, and the big question is: what will happen if Spain and Italy need help?
    Paul Krugman has addressed all this in the past. Here is his current view: The Spanish Prisoner.
    Market futures are down ⅓% tonight. Asia is down.
  
  Spain, Portugal spreads set records
    The mood turns ugly in Europe