Daily Investment Interpretations
August 5, 2010
markets fell a little today on disappointing weekly job claims and a
tepid retail sales ahead of tomorrow's key employment report: Stocks register displeasure. The NASDAQ Composite
parted with 10.51
to finish at 2,293.06. The Dow declined 5.45
at 10,674.98, and the S&P 500
shaved off 1.43
to end at 1,125.81. Oil
closed at $82.41 a barrel, while Gold ratcheted up to
$1,198 The VIX dipped 0.11
My investment advisory service believes that there's still air left in this rally's tires.
30-year fixed-rate mortgage lowest since 1971 is consistent with the possibility of deflation, and Treasurys up; jobless claims increase concerns notes that:
"Expectations of further quantitative easing have supported both the bond and equity markets. But this isn't likely to last forever. Either bonds will be proved right on deflation and equities will sell off or equities will be proved right about a better economic environment and bonds will be hit hard."
Market futures are neutral tonight ahead of tomorrow's payrolls data: Mostly bad news tipped for jobs data