Daily Investment Interpretations
November 28, 2011
(Monday Night): The
markets fell a bit farther today: Friday turns bleak on Street,
Another awful week for stocks.
Composite lightened up 18.67
points (-0.75%) to
close at 2,441.51.
The Dow backed up 25.77
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