Daily Investment Interpretations

April 29, 2010

2010-4-29:  The markets galloped upward again today. The NASDAQ Composite posted a 40.19 points (1.63%) gain to close at 2,511.92, the Dow gained 122.15 points (1.1%) to 11,107.32, and the S&P 500 added 15.42 points (1.29%) to end the day at 1,206.78. Oil rebounded to $85.30 a barrel, while Gold subtracted $4 to close at $1,168. The VIX fell 2.64 to 17.44
   
There was quite a lot of good news today that helped offset concerns over the Grecian issue. Most of this good news involved individual earnings reports, but initial jobless claims were also lower: Initial jobless claims fall by 11,000 to 448,000.
    Peter Brimelow writes: Paranoid bear has met enemy, still bearish.
    An Elliott wave theorist proposes: Don't worry about downward Dow -- yet .
    David Callaway posits that the Fed is delaying a day of reckoning that must soon impact the stock market: Fed can't delay market storm: David Callaway.
    And in the "Winter of Our Discontent" vein come Todd Harricon's Poster child for class warfare, and Goldman's glitzy new home.
    Stock market futures are down slightly tonight.