Daily Investment Interpretations

June 11, 2010

2010-6-11:  Stocks rose modestly in late trading today in the face of mixed news: Retail sales fall for first month in eight, Consumer sentiment rises, and Bulls shake off doldrums  The NASDAQ Composite advanced 24.89 points (1.12%) to close at 2,243.60, the Dow toddled up 38.54 points (0.38%) to close above 10,000, at 10,211.07, and the S&P 500 climbed 4.76 points (0.44%) to end at 1,091.60. Oil ended at $74.23 a barrel, while Gold closed at $1,228. The VIX dropped 1.78 to 28.79. .  
    The markets don't seem to have sweated the
Bleak Friday's a day away. .
   
The markets built upon yesterday's gains, though only pallidly.   
    Consumer confidence rose last month, but consumer spending fell 1.2%, confounding predictions for an 0.2% gain. Corporations are sitting on unprecedented levels of cash. Clearly, corporations are worried about the European debt crisis, and about the potential for a double-dip economy. And this means that, optimistic talk to the contrary, corporations aren't going to do much hiring until they feel it's safe to go back in the water..