Daily Investment Interpretations

July 16, 2010

2010-7-16:  The markets took a swan dive off the end of the dock today: Flight from stocks. The NASDAQ Composite careered 70.03 points (-3.11%) to finish at 2179.05. The Dow toppled 261.26 points (-2.52%) to close  at 10,098.05, and the S&P 500 added 31.60 points (-2.88%) to end at 1,064.88. Oil was unchanged at $75.87 a barrel, while Gold ended at $1,192. The VIX added1.27 to 26.41.
    Today saw quite a contraction, and I don't as yet have any guidance regarding how serious today's downturn was. Three pieces of bad news drove it: Consumer sentiment dives, and Too-freaky Friday, and U.S. consumer prices retreating in June