Daily Investment Interpretations

November 16, 2011

2011-11-16: (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. The NASDAQ Composite marched back down 46.59 points (-1.73%) to close at 2,639.61. The Dow shed 190.57 points (-1.58%) 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.