Daily Investment Interpretations
November 23, 2011
(Wednesday Night): The
markets plunged today: U.S. stocks sharply lower on Europe fears,
Hope Is Lost As Stocks Hit For a Sixth Consecutive Day.
Composite descended 61.2
points (-2.43%) to
close at 2,460.08.
The Dow gave up 236.17
to 11,257.55; the S&P 500
discarded 26.25 points (-2.21%)
to settle at 1,161.79. Oil gained slightly further to 95.66
Fear premium in oil is starting to wane;
gold advanced to 1,689. The VIX rose 2.01
points to 33.98.
Among the Marketwatch headlines that moved today's markets are:
Crisis comes to Germany
Austrians' self-help fuels contagion
EU seeks budget oversight, euro bonds
Weighing odds of a euro-zone collapse (video)
Consumer sentiment highest since June
Prospect of euro collapse and your portfolio (video)
U.S. incomes outpace spending in October
Jobless claims rise
Europe stocks drop on German auction, China data
Durable-goods orders fall 0.7% in October
In another of his excellent articles, Why everyone is wrong about defense, Brett Arends tells about the stunning level of U. S. military budgets (higher as a percentage of GDP than at any time except during the WWII years:1943, 1944, and 1945. He explains that the threatened military budget cuts would lead to a 16% rise over the next ten years rather than the projected 23% increase. I believe that our military budget is currently larger than the sum total of all the other countries in the world combined.
And Mark Hulbert reminds us that this is the Second anniversary of Greek debt crisis.
State of the Markets' articles include:
Technical Talk: As the Cookie Crumbles
China's Flash PMI Dives Below 50; Signals Manufacturing Slowdown
Eurozone Preliminary PMI's Confirm Economic Contraction
German Bond Auction Not Well Received
Fed To Force 6 U.S. Banks to Undergo 'Global Market Shock' Stress Test
Weekly Jobless Claims Up 2K For Week Ending 11/18
Orders for Durable Goods Fall In October; Ex-Transport Component Up
Personal Income and Spending Report Mixed in October
Fitch Warns On France's Triple-A Credit Rating
The Not-So Done Deal With The Dexia Bailout
Bloomberg Consumer Comfort Index Still Weak
University of Michigan Sentiment Rises in October