Daily Investment Interpretations
October 12, 2011
(Wednesday Night): The
equity markets rocketed upward today on stronger promises out of
Europe: Stocks rise 1% on EU hope,
The NASDAQ Composite gained 21.7 points (0.84%) to close at 2,604.73. Up 102.55 points (0.9%), the Dow closed at 11,518.85; the S&P 500 closed up 11.71 points (0.98%) to settle at 1,207.25. Oil inched down to 85.02; gold slipped slightly to 1,679. The VIX eased down 1.96 points to 30.89.
Market volume rose a bit today.
After peering into the abyss last week, the markets have made a strong rebound, and are approaching the upper limits of their trading ranges.
State of the Markets articles include: Thinking Out Loud. In this early-morning article, David Manning suggests that the Eurozone leaders have nothing new to offer but are only buying time. But for some reason, traders have accepted these vague reassurances.
Fed Minutes: A Range of Policy Options Were Considered
EU Commission's Roadmap for a 'Comprehensive Response' to Debt Crisis
EU's Barraso Says Banks Need to Find Capital Independently
France Says It Won't Need EFSF for Banks
EU's Baroso to Present Bank Recapitalization Plan
Pepsi Earnings Come In Ahead of Consensus
Eurozone Industrial Production Surprises to Upside
Slovakia Votes No on EFSF Expansion
Mark Hulbert writes: Good news: Wall Streetís in a bad mood This is the typical contrarian argument that "Bad news is good news in disguise".
Are institutional investors joining the rally?
Chuck Jaffe presents: Tips from a top contrarian.
In Going short: Check volatility, the author observes that "The market looks pretty darn good."
Matthew Lynn has a thought-provoking theme in Stock gurus just arenít what they used to be. Hedge funds aren't doing as well as the rest of the markets.
Another article suggests: Forget the headlines, buy Alcoa now.
Stock market futures are slightly positive tonight.