Daily Investment Interpretations

May 14, 2010

2010-5-14:  A last-minute buying spree brought the indices a little out of their doldrums. The NASDAQ Composite ended the day down 47.51 points (-1.98%) to 2,346.85, the Dow sacrificed 162.79 points (-1.51%) to 10,620.16, and the S&P 500 shranked 21.76 points (-1.88%) to end at 1,135.68. Oil fell to $71.89 a barrel, while Gold retreated to $1,231, finally responding to the rising dollar. The VIX rose 4.73 to 31.41.
    The proximate cause of this week's downward spiral would seem to be rooted in angst over the Eurozone debt crisis: EU can't be rid of hangover. At this time, I don't have any further indications of what comes next: U.S. stocks to stay on shaky ground in week ahead. I may know more by Sunday night.