Daily Investment Interpretations

July 8, 2010

2010-7-8:  The markets followed through modestly on yesterday's "relief rally"(?) The NASDAQ Composite powered upward 15.83 points (0.74%) to finish at 2175.40. The Dow gained 120.71 points 1.2%) to close above 10,000 again at 10,138.99, and the S&P 500 advanced 9,98 points (0.94%) to end at 1,070.25. Oil hopped $1.20 to $75.69 a barrel, while Gold ended at $1,196. The VIX fell 1.13 to 25.71.
    The two IMF articles below express the International Monetary Fund's projections that although the recovery may be slower than anticipated, the world's economies won't shift into reverse gear again: IMF thinks it's going to be OK, and World GDP to grow 4.6%.
    IMF warns against budget cuts refers to the "Washington-based" IMF warnings that European governments should be careful about cutting their budgets in the immediate \future because of the danger of derailing the economic recovery.
    Income Gaps Between Very Rich and Everyone Else More Than Tripled In Last Three Decades, New Data Show 
    Market futures are neutral tonight.