Daily Investment Interpretations

November 28, 2011

2011-11-28: (Monday Night): The markets fell a bit farther today: Friday turns bleak on Street, Another awful week for stocks. The NASDAQ Composite lightened up 18.67 points (-0.75%) to close at 2,441.51. The Dow backed up 25.77 points (-0.23%) to 11,231.78; the S&P 500 slipped 3.12 points (-0.27%) to settle at 1,158.67 Oil gained slightly further to 97.32; gold fell to 1,684. The VIX rose 0.49 points to 34.47.
    The markets were up on Friday until S&P announced that it was downgrading Belgium's credit rating from AAA to AA: S&P downgrades Belgium's credit rating. , Euro slides, Hungaryís forint hit after downgrade. (S&P downgraded Hungary's and Portugal's debt to junk bond status.)     The real problem is that the bad news just keeps rolling in from Europe, and I don't know of any reason why it won't get worse before it gets better.
    Mark Hulbert observes: Black Friday, blue stock market/
    Kevin Marder presents The case for a market comeback.
    EU's Rehn: Italy has assets to overcome crisis  

    Oil futures fall under $96 a barrel  
    Japanís October CPI signals deflation  
    Economy and Politics  
    Italy sells 6-month bills as yield soars  
    Italy retail sales fall, adding to recession fears  

    State of the Markets articles include:   
    Greece Now Asking Bondholders to Take 75% Haircut  
    Would a EuroBond Just Make Things Worse?
    EC President Barroso: Europe Situation 'Very Worrying'  
    Moody's Cuts Hungary Rating to Junk Status  
    Italy's Latest T-Bill Auction Deemed 'Awful'  
    S&P Now Looking At Japan's Debt Rating  
    Will Everybody Just Chill Out Please?  
    France and Germany To Propose Modificatons to EU Treaty  
    Fitch Downgrades Portugal to Junk Status