Daily Investment Interpretations
March 1, 2010
Today saw higher market indices across the board: Street starts March strong;
; Spending rises;
and Manufacturing expanding.
The NASDAQ Composite pole-vaulteded 35.31
to close at 2,273.57, the Dow improved 78.53
close at 10,403.79, and
the S&P 500 swelled 11.22
to close at 1,115.71. Oil closed at $78,75 a barrel.
Gold was essentially unchanged,
ending the day at $1,118.
The VIX fell 0.24
My investment advisory service advised that if the markets closed up as high tonight as they were this morning, they stand a good chance of revisiting their January highs. That would amount to 1,150 for the S&P 500, 2,320 for the NASDAQ, and 10,700 for the Dow.
The indices aren't awfully far away from there. The NASDAQ is about 2% below its January high, and the Dow and the S&P 500 are still off about 3%.
As the title implies, the heavy February snowstorms that swept the nation were responsible for declines in days worked (as well as, no doubt, other productivity deficiencies): Data set to reveal a job market clouded by storms in February
Peter Brimelow and Edwin Rubenstein write: Parsing 200 years of gold trades This article notes that gold, after 175 years of fluctuating between $0.75 and $1.50, is currently trading at 3.26 times its inflation adjusted 1801 price.... i. e., its odds of falling are much greater than its odds of rising.
Market static signals (video) "Once-clear leading economic indicators such as the Treasury yield curve are now widely disputed. But what growth trend is priced into stocks?"
Stock market futures are neutral tonight.