Daily Investment Interpretations

June 16, 2010

2010-6-16:  The markets closed flat today:: Street falls flat.  The NASDAQ Composite advanced 0.05 points (0.00%) to close at 2,305.93, the Dow tacked on 4.69 points (0.05%) to close at 10,409.46, and the S&P 500 slipped 0.62 points (-0.06%) to end at 1,114.61. Oil ended at $77.54 a barrel, while Gold ended the day at $1,232. The VIX dropped 0.01 to 25.86.
   
Economists push back estimate for rate hikes. In this article, economists at 14 top U. S. banks have pushed back their forecasts for interest rate hikes until the middle of 2011. In January, they had been concerned about inflation; now their concern is about deflation. They see an economy growing at "half-speed" this year and next, with a double-dip recession "very unlikely".
 
   Mark Hulbert is next at bat with Dow Theory sees bull market near death..This article sets forth the conditions for ascertaining whether we're in a primary bear market.   

    Red flags for BP far from public eye   This article explains that traders may be quietly dumping BP stock, which could be the company's death knell. (If its total stock evaluation dropped below the value of its assets, I suppose it could become a takeover target.)   
    Stock market futures are slightly lower tonight.