Daily Investment Interpretations
November 16, 2011
(Wednesday Night): Stock market indices
plunged today on good news at home and more bad news out of Europe: Bank warning sinks stocks,
Moody's, Fitch Headlines Bury Stocks Late.
Composite marched back down 46.59
points (-1.73%) to
close at 2,639.61.
The Dow shed 190.57
to 12,905.59; the S&P 500
decreased 20.9 points (-1.66%)
to settle at 1,236.91. Oil rose to 101.85: Oil back at century mark;
gold dropped $18
to 1,764: Gold's the only euro-crisis
winner: Lynn. The VIX gained 3.29
points to 33.51.
Generally speaking, the U. S. is doing better than expected: Industrial production expands 0.7% in October, Foreign demand for Treasurys jumps, while the Eurozone continues to unravel: Turmoil spreads in Europe.
Note that any agency that can move the markets, like Fitch or S&P, can profit from self-generated market moves.
Brett Arends is back with another good article: We're a nation of suckers, thinks Brett Arends, The Double Standard that’s Making Congress Rich. It's a bout the fact that U. S. lawmakers have made it legal for them (and just for them) to trade on insider information: Congress and insider trading.
King's dour outlook (video) discusses the downbeat outlook the Bank of England has on the Eurozone.
Mark Hulbert notes that Stocks May Lack Direction, But Volume's Dried Up.
50% chance of recession? Love bonds
Can supercommittee get it done?
State of the Markets' articles include:
Technical Talk: Price Action Decent Despite Euro Yields Jitters
Things That Do Work These Days
Moody’s Downgrades 11 German Banks, Reduces Support Assumptions for Landesbanken
Fitch Says Euro Zone Contagion Poses 'Serious Risk' to U.S. Banks
ECB Steps In To Buy Spanish and Italian Bonds
How long can ECB buy bonds?
CPI Shows Inflation Remains In Check in U.S
Industrial Production Report Beats Expectations
NAHB Homebuilder Confidence Improves Again in November
Market futures are neutral tonight.